The AUD/USD pair initially tried to rally during the day on Tuesday, but then turned back around to fall towards the 0.70 handle. That area is a large,
The AUD/USD pair initially tried to rally during the day on Tuesday, but then turned back around to fall towards the 0.70 handle. That area is a large, round, psychologically significant number of course, and could cause quite a bit of support. However, there are unemployment numbers coming out of Australia today, so it is likely that could be the catalyst to move this currency in one direction or the other. A bounce from this area could be a decent opportunity to start selling on exhaustion. A break down below the 0.69 handle freeze this market to reach down towards the 0.65 level.
AUD/USD Forecast November 11, 2015, Technical Analysis
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.
