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.
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.
