The AUD/USD pair rose during the session on Monday, bouncing off of the lows again. However, this market is simply showing a bit of a “dead cat bounce.” This is our opinion because of the fact that the liquidity is just not there for the markets are now, and as a result we think it’s difficult to garner too much information out of this move. Ultimately, we feel that this market will find enough resistance near the 0.90 level to start selling off again, and continue the downtrend. It is not until we get above the 0.92 level that we become bullish of this market.
Written by FX Empire