The AUD/USD pair broke above the 0.75 level during the week, and it looks like it is a bit bullish. However, I would state that the US dollar is going to
The AUD/USD pair broke above the 0.75 level during the week, and it looks like it is a bit bullish. However, I would state that the US dollar is going to strengthen longer-term, so we can break down below the bottom of the candle I feel the market should then reach down to the 0.72 level. A breakdown below there should send the market to the 0.70 level underneath there, and thus it’s only a matter of time before we get the opportunity to short. However, the 0.7750 level above is what I believe is the “ceiling” in this market.
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.
