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.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
