The AUD/USD pair fell rather significantly during the day on Wednesday as the 0.75 level continues to offer quite a bit of resistance. It looks as if we
The AUD/USD pair fell rather significantly during the day on Wednesday as the 0.75 level continues to offer quite a bit of resistance. It looks as if we are going to continue to go lower, but ultimately short-term rally should continue to be selling opportunities in a market that has obviously broken down. Ultimately, this is a market that will follow gold, which looks very vulnerable currently. Because of this, I have no interest in buying the Australian dollar and believe that the sellers will return again and again, especially considering that the US dollar itself is so strong.
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.
