The AUD/USD pair initially fell during the course of the session on Monday, but found enough support below to turn things back around and form a little
The AUD/USD pair initially fell during the course of the session on Monday, but found enough support below to turn things back around and form a little bit of a hammer. With this, the market looks like it is going to try to reach back towards the 0.75 level, where we would anticipate seeing quite a bit of selling pressure. We are looking for rallies to sell, as the give us “value” in the US dollar going forward. Gold markets may rally a bit, but they are also facing significant resistance above, so it’s only a matter of time before the bearish market continues in our opinion.
AUD/USD Forecast August 18, 2015, Technical Analysis
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.
