The AUD/USD pair went back and forth during the course of the session on Thursday, essentially hovering just below the 0.7350 handle. This is a pair that
The AUD/USD pair went back and forth during the course of the session on Thursday, essentially hovering just below the 0.7350 handle. This is a pair that we feel will ultimately break down, so we would love to sell rallies if we get the opportunity after the Nonfarm Payroll Announcement. We believe that the 0.75 level above is the “ceiling” in this market, and thereby have no interest whatsoever in buying the Australian dollar currently. We sell rallies, and of course breakdowns below as we think the market will eventually reach towards the 0.70 handle.
AUD/USD Forecast August 7, 2015, Technical Analysis
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.
