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.
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.
