The AUD/USD pair broke higher during the course of the session on Wednesday, bouncing off of extreme lows near the 0.7250 level. However, we have plenty
The AUD/USD pair broke higher during the course of the session on Wednesday, bouncing off of extreme lows near the 0.7250 level. However, we have plenty of resistance above and as a result we feel it’s only a matter of time before we get a resistive candle that we can search selling. The 0.75 level above is massively resistive, and as a result we have no interest in buying at this point. If you keep in mind that the gold market is getting a little bit of a relief rally, so this can be a bit of a reaction to that.
AUD/USD Forecast August 13, 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.
