The AUD/USD pair initially tried to rally during the course of the week but just as we did the previous week, we ended up finding selling pressure near
The AUD/USD pair initially tried to rally during the course of the week but just as we did the previous week, we ended up finding selling pressure near the 0.7675 level. This of course has been a significant barrier in the past, and the fact that we have formed a pair of shooting stars suggests just how much trouble were going to run into in this area. However, we did form a hammer before this, so I think at this point in time this is a market that goes back and forth in will probably be traded off of short-term charts at best.
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.
