The AUD/USD pair fell a bit during the course of the session on Monday, as we continue to see weakness in the Australian dollar overall. Keep in mind that
The AUD/USD pair fell a bit during the course of the session on Monday, as we continue to see weakness in the Australian dollar overall. Keep in mind that the US dollar is without a doubt the strongest currency at the moment, and we believe that will be the case going forward. On top of that, gold markets are doing no favors for the Aussie dollar as although they trying to rally during the course of the day on Monday, they got absolutely pummeled at the $1100 level. With this, we are sellers on a break below the bottom of the Monday range.
AUD/USD Forecast November 17, 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.
