The AUD/USD pair initially tried to rally during the course of the week, but gave back all of the gains in order to form a massive shooting star. The
The AUD/USD pair initially tried to rally during the course of the week, but gave back all of the gains in order to form a massive shooting star. The shooting star sits right on the top of massive support, so we feel that this market will more than likely break down at this point. We feel that the market should then head to the 0.85 handle, and then possibly the 0.80 level as well. We have no interest in buying the Australian dollar at the moment, as the gold markets are certainly working against its value.
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.
