AUD/USD initially spiked on Wednesday as traders bought the “risk on” trade hand over fist. The pair then retreated in the end and formed a massive
AUD/USD initially spiked on Wednesday as traders bought the “risk on” trade hand over fist. The pair then retreated in the end and formed a massive shooting star. The 1.02 level has held as resistance, and the pair looks as if it wants to get back to the parity level soon. A break of the lows from the Wednesday session would be a sell signal as the Dollar continues to be the “go to” currency for many traders in this time of uncertainty. With a break of that low, we are selling this pair for a quick hundred pips or so.
AUD/USD Forecast December 22, 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.
