AUD/USD fell on Wednesday as the risk off trade came back into vogue again. The parity level has been broken though, and the gap from two weekends ago
AUD/USD fell on Wednesday as the risk off trade came back into vogue again. The parity level has been broken though, and the gap from two weekends ago looks set to be filled. The 0.97 level looks to be the target and knowing this we are willing to sell rallies and a break below the Wednesday low. The pair cannot be bought at this point in time as the commodities markets are falling apart presently. The Aussie will continue to get punished in this “risk off” environment.
AUD/USD Forecast December 15, 2011, 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.
