The AUD/USD pair fell during the course of the week, slicing through the 0.75 handle. The fact that we have broken down there suggests that we could see
The AUD/USD pair fell during the course of the week, slicing through the 0.75 handle. The fact that we have broken down there suggests that we could see quite a bit of negativity but at this point in time I think there are more than enough support of areas below that should keep this market difficult to deal with from the longer-term perspective. Ultimately, I think that you will probably have to trade this market off of the short-term charts, or perhaps even sit on the sidelines as the market has to figure itself out.
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.