The AUD/USD pair had a slightly positive candle form during the week, as we found a bit of support near the 0.68 handle. At this point in time, breaking
The AUD/USD pair had a slightly positive candle form during the week, as we found a bit of support near the 0.68 handle. At this point in time, breaking down below the uptrend line from a couple of weeks ago appears to show that the market is going to continue to see selling pressure. If we can get a resistant candle above, we would not hesitate to start selling. We are not necessarily interested in buying the Australian dollar, as there are a lot of concerns of slowdown in China.
AUD/USD forecast for the week of January 25, 2016, Technical Analysis
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.
