The AUD/USD pair initially tried to rally during the course of the week but turned back around to slam into the 0.70 region. This area is the absolute
The AUD/USD pair initially tried to rally during the course of the week but turned back around to slam into the 0.70 region. This area is the absolute bottom of the market, but it now looks as if the market could very well break below there. If we make a fresh, new low, the market will then start to reach towards the 0.68 handle. Any bounce from here should be a selling opportunity, and as a result we of course will sell resistive candles above as long as we stay below the 0.75 handle.
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.
