The AUD/USD pair tried to rally during the course of the day on Thursday, but found the 0.88 level be far too resistive and therefore turned back around
The AUD/USD pair tried to rally during the course of the day on Thursday, but found the 0.88 level be far too resistive and therefore turned back around and form a shooting star. That shooting star of course is very weak and suggests that we are going to go lower, perhaps testing the bottom of the consolidation area down at the 0.8650 region. We have no interest in buying this market anyway, and quite frankly looks a little bit tight to be bothered with in general. With that, we are fairly ambivalent about this market.
AUD/USD Forecast October 24, 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.
