The Australian dollar fell during most of the session on Wednesday, but turned around to rally during the US trading. We are testing the 0.80 level as I write this, and I recognize that there is a significant amount of resistance above that level. Because of this, I need to see a daily close above that level to start buying. I believe that we could eventually break out to the upside, and go much higher but in the meantime, I think that it’s probably best to sit on the sidelines as the market tries to build up the proper momentum.
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AUD/USD Forecast September 7, 2017, Technical Analysis
The Australian dollar fell during most of the session on Wednesday, but turned around to rally during the US trading. We are testing the 0.80 level as I
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About the Author
Christopher LewisSenior Analyst
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.
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