The AUD/USD pair broke higher during the course of the day on Friday, finding enough resistance at the 0.88 level. That being the case, we feel that the
The AUD/USD pair broke higher during the course of the day on Friday, finding enough resistance at the 0.88 level. That being the case, we feel that the market forming a shooting star for the session on Friday suggests that the market is going back and forth but really can’t decide what to do. Ultimately, the pair should continue to go lower in our opinion, because we most certainly have a very negative look to the trend, and the weekly charts formed three shooting stars in a row, showing significant resistance.
AUD/USD Forecast October 20, 2014, Technical Analysis
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.
