By FXEmpire.com
The AUD/USD pair fell hard on Thursday as traders got bad news out of the US, and the European debt fears continue to take center stage. The massive losses in the European stock indices didn’t do much to help the trader sentiment, and when traders are becoming risk-adverse, they leave commodity related currencies hand over fist. The Aussie is no exception.
The 1.03 area is minor resistance, and we may see it hold. If it gives way however, we will see this pair test 1.01 and then parity before the move ends. Any bad news in a market like this can sell this pair off. We don’t sell yet – but we certainly don’t buy for the next 24 hours.
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