The AUD/USD pair went back and forth during the course of the week, testing the 0.88 level yet again. This area continues to offer resistance though, so
The AUD/USD pair went back and forth during the course of the week, testing the 0.88 level yet again. This area continues to offer resistance though, so as a result it’s very likely that even if we go higher, this market will in fact find selling pressure above that offers selling opportunities longer term. We do think that ultimately the Australian dollar does drop significantly, but it’s obvious that we are ready to do so yet. If we do get above the 0.90 level however, that would be a very bullish sign.
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.
