The AUD/USD pair initially tried to rally during the course of the week, but found the 0.7750 level above to be a bit too resistive. By doing so, we ended
The AUD/USD pair initially tried to rally during the course of the week, but found the 0.7750 level above to be a bit too resistive. By doing so, we ended up turning back around and forming a shooting star. Because of this, it’s likely that we will drop from here but there is a significant amount of support below at the 0.75 level, so if we bounce from there would not be much of a surprise. If we broke down below there, then we could start to fall rather significantly.
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.
