The AUD/USD pair fell during the day on Tuesday, as we continue to see quite a bit of resistance near the 0.75 handle. A break down below the bottom of
The AUD/USD pair fell during the day on Tuesday, as we continue to see quite a bit of resistance near the 0.75 handle. A break down below the bottom of the candle should continue to send this market lower. I believe that the market will then reach towards the 0.73 handle. Pay attention to gold, because as it falls it should continue to put significant pressure on this market. I believe that the 0.75 level should continue to be massively resistive and act as a “ceiling” in this market. If we do break above there, then we need to aim for the uptrend line above.
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.
