The AUD/USD pair initially fell during the course of the day on Tuesday, breaking well below the 0.70 level to test for support. We found quite a bit
The AUD/USD pair initially fell during the course of the day on Tuesday, breaking well below the 0.70 level to test for support. We found quite a bit there, and ended up turning back around to form a hammer. That’s obviously very bullish sign, but at the end of the day we recognize that there is still quite a bit of noise above as well. With that, we are simply sitting on the sidelines at this point in time, waiting for a longer-term signal to start following again. We will keep you informed.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
