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
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.
