The AUD/USD pair broke down a little bit during the session on Tuesday, but quite frankly we have a lot of noise below us. At the end of the day though,
The AUD/USD pair broke down a little bit during the session on Tuesday, but quite frankly we have a lot of noise below us. At the end of the day though, we are most certainly in a downtrend, so therefore we feel as if the market can only be sold. If we break down below the bottom of the range, we are willing to sell the Australian dollar, but we also recognize that it will probably be very volatile. If we rally from here, we are willing to sell resistive candles that appear between here and the 0.75 resistance barrier. We have no interest in buying.
AUD/USD Forecast August 19, 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.
