The AUD/USD pair tried to rally during the course of the week, but for the third week in a row struggle to stay above the 0.88 level. Because of that, the
The AUD/USD pair tried to rally during the course of the week, but for the third week in a row struggle to stay above the 0.88 level. Because of that, the market looks as if it is going to fall significantly from here, as seen a triple shooting star formation is fairly rare. With that, we feel that this market will more than likely attempt to reach the 0.85 level, and then possibly the 0.80 handle. If we broke above the 0.90 level though, that would be an extraordinarily strong move and would have us thinking about buying.
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.
