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.
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.
