The AUD/USD pair fell during the course of the session on Wednesday, as we broke down below the 0.71 handle. By doing so, we are testing the bottom of the
The AUD/USD pair fell during the course of the session on Wednesday, as we broke down below the 0.71 handle. By doing so, we are testing the bottom of the hammer from the Monday session, so having said that we feel that the market will probably reach down towards the 0.70 level. If we can break down below that level, the market could continue to go much lower. In the meantime, it’s probably easier to sell rallies every time they happen, after showing signs of resistance or exhaustion on short-term charts going forward.
AUD/USD Forecast August 27, 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.
