AUD/USD fell below the parity level a few sessions ago, and Friday saw a very bearish candle as the day saw an attempt to rally above that parity level,
AUD/USD fell below the parity level a few sessions ago, and Friday saw a very bearish candle as the day saw an attempt to rally above that parity level, only to form a shooting star at the close. The failure to rally above that parity level shows just how difficult it will be for the bulls to get back above that mark. The market looks very likely to continue lower to fill that gap form a couple of weekends ago, and we are selling weakness in order to join that move. We are not buying the Aussie at all in this environment of fear.
AUD/USD Forecast December 19, 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.
