By FXEmpire.com
The AUD/USD pair rose during the session on Monday to form another hammer to show even more support. The pair looks as if it is trying to rally, and the Aussie is probably oversold at this point in time. The commodity markets are going to have to lead the way, and until we get that, it won’t be easy to buy this pair. A break of the bottom from Friday will have us selling this pair. A failure at the parity level will also set up nicely for a sell position. As for going long, we would consider it on a break above the highs on Friday and Monday, but only for a very short-term trade.
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Originally posted here
