The AUD/USD pair fell during the course of the day on Thursday, but found enough support near the 0.73 level to turn things back around and form a bit of
The AUD/USD pair fell during the course of the day on Thursday, but found enough support near the 0.73 level to turn things back around and form a bit of a hammer. Because of this, it looks as if the Australian dollar is going to try to continue going higher. However, we see more than enough resistance of the 0.75 level to keep this market down, and as a result we are waiting for resistant candle in order to start selling yet again. If we break down below the bottom of the hammer, we would also sell at that point in time.
AUD/USD Forecast August 14, 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.
