By FXEmpire.com
The AUD/USD pair originally fell for the week, but the 50% Fibonacci retracement level acted as support again to send this pair much higher. The resulting candle was a hammer and this pair now looks set to breakout to the upside. As a result, we are willing to buy on a break higher. However, it should be noted that there is a rate decision in Australia on Monday, so that will have to be considered, although we still like buying at this point. Selling isn’t a thought as there are simply too many support areas below.
Click here to read AUD/USD Technical Analysis.
Originally posted here
