The AUD/USD pair had a slightly positive week, bouncing off of the 0.70 level. Because of this, the market looks as if it is ready to continue
The AUD/USD pair had a slightly positive week, bouncing off of the 0.70 level. Because of this, the market looks as if it is ready to continue consolidating overall, but it is a relatively tight range to deal with, so having said that it’s very unlikely for us to start placing longer-term trades at this moment. We like shorter-term charts though, as we could trade back and forth in this general vicinity. Ultimately, we will simply sit on the sidelines and wait to see whether or not we get an impulsive candle that we can trade.
AUD/USD forecast for the week of November 16, 2015, 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.
