The AUD/USD pair went back and forth during the course of the week, essentially forming a fairly neutral candle. The 0.75 level above should be resistive
The AUD/USD pair went back and forth during the course of the week, essentially forming a fairly neutral candle. The 0.75 level above should be resistive though, so having said that, we are looking for selling opportunities above. We believe that the AUD/USD pair eventually goes down to the 0.70 level, given enough time. Gold markets are very soft, and that of course is going to work against the value of the Australian dollar overall. On top of that, the US dollar is very strong in general at this point.
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.
