The AUD/USD pair fell slightly during the course of the week, but essentially went nowhere. We recognize that this market is negative overall, but it
The AUD/USD pair fell slightly during the course of the week, but essentially went nowhere. We recognize that this market is negative overall, but it looks like it’s consolidating in this general vicinity. We believe that it’s only a matter time before the sellers step back into this marketplace though, so we are actually going to look at rallies as potential value in the US dollar. Obviously, if we can break down below the recent low, we would also be sellers as the market should then head to the 0.70 level and possibly even lower than that given enough time.
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.
