The AUD/USD pair initially tried to rally during the course the day on Friday but then turned around rapidly and broke apart. This was mainly because the
The AUD/USD pair initially tried to rally during the course the day on Friday but then turned around rapidly and broke apart. This was mainly because the gold markets struggled, collapsing after the better than anticipated jobs number came out. The 0.70 level below should be supportive, but at this point in time we are not willing to buy the Australian dollar as there is no supportive candle to place a trade upon. If we managed to make a fresh, new low, this market will then reach towards the 0.6850 handle, or even lower.
AUD/USD Forecast November 9, 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.
