The AUD/USD pair initially fell during the day on Thursday, but found enough support below to turn things back around and form a hammer. Ultimately, this
The AUD/USD pair initially fell during the day on Thursday, but found enough support below to turn things back around and form a hammer. Ultimately, this hammer should continue to go higher and head towards the 0.75 handle. That is an area that has a significant amount of resistance, and as a result we are simply going to ignore the market going higher, and simply waiting to see some type of resistive candle in order to take advantage of the longer-term trend in the Australian dollar that has been so strong over the last several months.
AUD/USD Forecast August 21, 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.
