By ForexMansion.com
The AUD/USD has found support at the 0.97 and formed a massive hammer as well. This is a very bullish sign, and points to a northerly direction. However, there is a lot of noise between here and the 1.02 level. As such, it is advised that any new longs in this pair should wait until we get a clean break above that level. Alternately, if this pair gets below 0.97, the formation of the hammer would suggest that this market would have breached a massive support level in 0.97. If that happens, we are going down, and possibly as low as 0.80 before it is all said and done.
