The Australian dollar fell initially on Wednesday, but found enough support to turn around and formed a hammer. If we can break above the top of the
The Australian dollar fell initially on Wednesday, but found enough support to turn around and formed a hammer. If we can break above the top of the hammer, I believe that the market will continue to go higher. The attention to gold, it looks as if it is trying to break out, and that of course will make the Australian dollar attractive. I believe that the 0.75 level underneath is the “floor” in this market, so if we stay above there is can be almost impossible to consider selling this currency pair.
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.
