By FXEmpire.com
The AUD/USD pair fell hard for the week as the “risk off” attitude came back into the markets. The jobs number in the US was poor on Friday, and we saw a real rout as a result. Because of this, all risk related assets fell during the session, and as a result the Aussie fell as well.
The breaking below of the hammer from last week is a massively bearish sign, and this should lead to more selling. The 1.02 level was the start of support, so the move lower could be a choppy one. We are selling a break of the previous week’s lows as a sign to sell though.
Click here to read AUD/USD Technical Analysis.
Originally posted here
