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
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.
