The AUD/USD pair went back and forth during the course of the week, showing a slightly positive tone. The area above, namely the 0.7750 level above, is an
The AUD/USD pair went back and forth during the course of the week, showing a slightly positive tone. The area above, namely the 0.7750 level above, is an area that has so much in the way of noise that I do not think that the Australian dollar can continue to go higher at this point. Sooner or later, we should see a drop back to the 0.75 handle, but there isn’t much in the way of room to move at the moment as far as longer-term traders are concerned. With this, it’s probably better to look to short-term charts.
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.
