The AUD/USD pair fell on Wednesday, but found enough support at the 0.75 level underneath. We turned around to form a hammer, which of course is a bullish candle. Looking at this market, it looks as if we are going to continue to go to the upside, and then reach towards the 0.7750 level. A breakdown below the 0.75 level of course is negative, but I need to see it coincide with the gold markets falling. There’s a lot of noise underneath, so keep that in mind. Regardless what happens next, I expect there will be quite a bit of volatility.
Written by FX Empire