The AUD/USD pair fell during the session on Wednesday due to the FMOC announcing its bond buyback purchase program being shrank slightly. The Australian dollar continues to show weakness overall, and the fact that we broke down below the hammer from the Tuesday session gets us thinking that this pair is probably going to break through the 0.88 handle in the next session or two. Hello there, we think the Australian dollar drops to the 0.85 level, before seeing a significant bounce from that large, round, psychologically significant number. As far as buying is concerned, we have absolutely no scenario in which we do so at the moment.
Written by FX Empire