The AUD/USD pair had a negative session after initially trying to rally on Wednesday as the 1.05 level was overcome by the sellers. We do have to consider
The AUD/USD pair had a negative session after initially trying to rally on Wednesday as the 1.05 level was overcome by the sellers. We do have to consider the 1.04 level as a significant support level below though, and as a result we see quite a bit of noise between here and there. With that being the case, we are not interested in selling this pair quite yet, and believe that supportive action would be a viable reason to go long of this pair that has been so strong on the balance. Until then, we are flat.
AUD/USD Forecast December 20, 2012, 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.
