AUD/USD: daily update
On Thursday Australian dollar managed to recover into the positive territory after having dipped to $0.8935 in the Asian trade. The pair found additional support on worse-than-expected US unemployment claims, touching $0.9042.
However, Australian dollar has been depreciating this week, denuding traders of hope for a higher rebound. Failure to break above $0.9235 (bottom of the daily bearish Ichimoku Cloud) on Monday was a bad sign for the buyers. We see it more logical to sell the pair on rallies.
UBS: Sell on a break below the $0.8848 with a target of $0.8545. Resistance lies at $0.9082 ahead of $0.9233.
Chart. H4 AUD/USD