The AUD/USD pair tried to break out above the 0.88 level yet again, but on Wednesday found the sellers more than willing and up to the task of keeping the
The AUD/USD pair tried to break out above the 0.88 level yet again, but on Wednesday found the sellers more than willing and up to the task of keeping the markets down. With that, it appears of the market should continue to grind lower, although we would emphasize the word grind. Because of this, you can be bearish of this market but it is one that is going to require quite a bit of patience, as the moves probably won’t be overly aggressive one way or the other. Ultimately though, we believe that the Australian dollar continues to lose value.
AUD/USD Forecast October 23, 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.
