The AUD/USD pair initially fell during the course of the week but found enough support at the 0.75 level to turn things back around and form a hammer.
The AUD/USD pair initially fell during the course of the week but found enough support at the 0.75 level to turn things back around and form a hammer. Because of this, we very well could see more bullish pressure but there so much in the way of noise above that is going to be difficult to go long on the longer-term chart. Pullbacks should continue to find buyers until we break down below the 0.75 level. I will trade this off short-term charts though more than anything else.
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.
