The AUD/USD pair rose during the course of the session on Friday, testing the 0.88 level. This level has offered resistance previously, and as a result we
The AUD/USD pair rose during the course of the session on Friday, testing the 0.88 level. This level has offered resistance previously, and as a result we think it’s only a matter of time before the sellers step in and push it back down. With that, we recognize that it is not until we get above the 0.90 area that we can consider this market “broken out” to the upside. With that, we are sellers every time this market rallies as well as the sellers are most certainly still in control of this pair.
AUD/USD Forecast October 27, 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.
