The AUD/USD pair tried to rally, but gave back about half of the gains. However, the 0.88 level looks to be somewhat resistive, and we think that there is
The AUD/USD pair tried to rally, but gave back about half of the gains. However, the 0.88 level looks to be somewhat resistive, and we think that there is a significant amount of resistance all the way down to the 0.90 level. With that, we are selling resistive candles as they appear, unless of course we get above the 0.90 level, which of course would be a very bullish move. At this point time though, it appears that the gold markets could possibly try to break out to the upside, and if they do it should push the Australian dollar higher. On the other hand, if they fall, that should push this pair lower.
AUD/USD Forecast October 14, 2014, 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.
