The AUD/USD pair initially fell on Thursday but found enough support to turn things back around and form a bit of a hammer. This suggests that the market
The AUD/USD pair initially fell on Thursday but found enough support to turn things back around and form a bit of a hammer. This suggests that the market is going to continue going higher, and if it does it will more than likely have to deal with resistance at the 0.72 handle. That area could be an excellent area to start selling at, especially if we get a resistive candle. We have no interest in buying this market right now, even though a move higher is somewhat likely. Given enough time, we believe this market will test the 0.7080 in.
AUD/USD Forecast November 13, 2015, Technical Analysis
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.
