The AUD/USD rose a bit during the Friday session, only to fail at the 1.02 level. The resulting candle is a short shooting star and shows the 1.02 is
The AUD/USD rose a bit during the Friday session, only to fail at the 1.02 level. The resulting candle is a short shooting star and shows the 1.02 is still going to cause a reaction in the markets. The pair is tightening up the range it trades in lately, and as a result we are calling for choppy trading with a slightly downward bias as the pair is highly sensitive to the headline risks out there. Because of this, we are trading this pair as it has a ceiling of 1.02 and a floor of 0.99 at the moment. Looking at the chart, it might be time to sell now.
AUD/USD Forecast December 26, 2011, 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.
