The AUD/USD pair initially tried to rally during the course of the week but pulled back to form a bit of a shooting star. During the previous week though,
The AUD/USD pair initially tried to rally during the course of the week but pulled back to form a bit of a shooting star. During the previous week though, we formed a hammer so therefore I think what we’re going to do now is simply consolidate. I’m not overly concerned about any type of meager pullback, and of course gold has look fairly strong recently so it would make sense of the Australian dollar continues to go higher over the longer-term. Don’t forget the interest rate differential as well, which of course favors Australia.
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.
