The AUD/USD pair had a slightly positive candle form during the week, as we found a bit of support near the 0.68 handle. At this point in time, breaking
The AUD/USD pair had a slightly positive candle form during the week, as we found a bit of support near the 0.68 handle. At this point in time, breaking down below the uptrend line from a couple of weeks ago appears to show that the market is going to continue to see selling pressure. If we can get a resistant candle above, we would not hesitate to start selling. We are not necessarily interested in buying the Australian dollar, as there are a lot of concerns of slowdown in China.
AUD/USD forecast for the week of January 25, 2016, Technical Analysis
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.
