The Australian dollar initially tried to rally during the day on Tuesday, but found the 0.74 level above to be far too resistive. Because of this, the
The Australian dollar initially tried to rally during the day on Tuesday, but found the 0.74 level above to be far too resistive. Because of this, the market looks as if it is going to turn around and start selling off again. If gold markets fall apart, that will of course tank the Aussie as well, and send this market much lower. On the other hand, if we break above the top of the shooting star feel that the market will probably reach towards the 0.7450 level above which is the beginning of significant resistance.
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.
