The AUD/USD pair fell significantly during the course of the session on Tuesday, crashing into the 0.75 support level. I believe that there is support all
The AUD/USD pair fell significantly during the course of the session on Tuesday, crashing into the 0.75 support level. I believe that there is support all the way down to the 0.74 level, so a supportive candle could be reason enough to start buying if we get one on a daily close. In the meantime, it’s probably best to step away from the Australian dollar as the Reserve Bank of Australia surprise the markets with an interest-rate cut yesterday. With this, we will continue to monitor the Australian dollar, but stand on the sidelines currently.
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.
