The AUD/USD pair initially fell during the course of the week, but found enough support below to turn things back around and form a hammer. With this, we
The AUD/USD pair initially fell during the course of the week, but found enough support below to turn things back around and form a hammer. With this, we find it very interesting as the gold markets did see a little bit of positive action during the course of the week as well. With this, it’s likely that if we can break the top of this hammer, this market should then head to the 0.75 handle. That area should be rather resistive though, so we think that it’s only a matter time before the sellers reenter the marketplace.
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.
