The AUD/USD pair initially fell during the course of the day on Wednesday, but then powered it through the 0.88 level. The market now looks as if it’s
The AUD/USD pair initially fell during the course of the day on Wednesday, but then powered it through the 0.88 level. The market now looks as if it’s ready to go back towards the previous resistance barrier at the 0.90 level, and as a result we feel that the short-term action will probably be fairly positive in this market. However, we are more apt to look for resistive candles that we can sell in order to take advantage of the strong trend. As far as buying is concerned, we would not do so until we get above the 0.91 handle.
AUD/USD Forecast October 9, 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.
