The Australian dollar initially fell during the session on Thursday, but bounced enough to test the 0.79 level again. I think there is a certain amount of
The Australian dollar initially fell during the session on Thursday, but bounced enough to test the 0.79 level again. I think there is a certain amount of negativity this market, as gold markets will continue to struggle until we get comments from both Mario Draghi and Janet Yellen today. Depending on the relationship between the 2 and of course the hawkishness of the Federal Reserve, we could see a bit of noise when it comes to the Australian dollar is a knock-on effect. I believe that the bearish pressure will continue though, and that these rallies should offer selling opportunities. The 0.80 level above is massive resistance.
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.
