By FXEmpire.com
The AUD/USD pair fell hard for most of the week as the “risk off” trade is now back in full force. The pair is now well under the parity level, and now looks as if it is pressing to break down to the 0.95 level. However, the fall has been strong enough that a bounce could be coming. Because of this, we are selling rallies instead of chasing this trade all the way down here. The 1.02 level should continue to be resistive going forward, and it isn’t until we close well above that level in order to place long-term buy positions in this pair.
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Originally posted here
