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.
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.
