- AUD/USD hit a 0.8641 high in NY but saw only a small pullback as it sat just above 0.8630 late in the day.
- USD counldn’t mount any meaningful bounce in NY despite US data above forecast
- The pair may squeeze higher in Asia as there is little data and the market may focus on the technical picture.
- A bullish hammer candle formed today and RSI turns from near oversold territory.
- If today’s USD slide persists overnight we might see AUD/USD test the 0.8720 area as recent shorts might cover.
The material has been provided by InstaForex Company – www.instaforex.com