The AUD/USD pair broke higher during the course of the session on Thursday, breaking the top of the hammer from the session on Wednesday. With that being the case, the market looks as if it is going to try to get towards the 0.80 level, but we feel that the market is probably going to find that area to be far too resistive to break out above. With that, we feel that the market will be a short-term trader’s type of situation at best. With that being the case, we believe that a break above the top of the range for Thursday offers a short-term buying opportunity only.
