The AUD/USD pair fell hard during the session on Friday, clearing the 0.88 handle with the ease. Because of this, the market looks like it’s going to serve falling apart again, and therefore we feel that this market will more than likely target the 0.85 level. That being the case, shorting on a break of the lows would be the way to go as far as we’re concerned, but quite frankly we are comfortable shorting now that we have closed below the 0.88 handle as well. The Australian dollar looks like you can get out of its own way, so we are very bearish.
Written by FX Empire