The AUD/USD pair initially tried to rally during the course of the session on Tuesday, but fell back down to break below the 0.73 handle. With this, the
The AUD/USD pair initially tried to rally during the course of the session on Tuesday, but fell back down to break below the 0.73 handle. With this, the market looks as if it is ready to test the lows again, but since we are so close to the most recent low, we are not willing to trade this market quite yet. We need to see this market break down below the 0.72 level to start selling comfortably, or a rally that shows lack of resilience. Either way, we are not buying the Aussie dollar.
AUD/USD Forecast August 12, 2015, Technical Analysis
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.
