The Australian dollar rose during the session on Tuesday as you can see, but remains in the previous consolidation area. Besides, we have been saying for
The Australian dollar rose during the session on Tuesday as you can see, but remains in the previous consolidation area. Besides, we have been saying for some time we expect to see a significant amount of resistance all the way to the 0.90 handle, and as a result we are not interested in buying it. In fact, we would love to see some type of resistant candle in order to start selling yet again. Keep an eye on the gold markets though, as they tend to be major drivers of where this pair goes.
AUD/USD Forecast October 29, 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.
