The AUD/USD pair fell hard during the course of the day on Tuesday, showing the 0.88 level as been resistance. Because of this, it appears that the market
The AUD/USD pair fell hard during the course of the day on Tuesday, showing the 0.88 level as been resistance. Because of this, it appears that the market is going to try to go down to the 0.8650 level. That area is significant support, and as a result if we get below there we would be massive sellers with the Australian dollar continuing to suffer in general. The gold markets certainly are not helping the Aussie as far as demand is concerned either, so quite frankly we are “sell only” when it comes to this marketplace.
AUD/USD Forecast October 15, 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.
