The AUD/USD pair initially tried to rally during the course of the week but found enough resistance near the 0.73 level to turn things around and form a
The AUD/USD pair initially tried to rally during the course of the week but found enough resistance near the 0.73 level to turn things around and form a shooting star. The shooting star of course is a negative sign and should send this market back down to the 0.70 level, but it might take a while to get there. This is a very tight market and therefore we are not fans of trading from a longer-term perspective. We are going to stick towards the short-term charts in order to start selling again.
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.