AUD/USD rose during the Friday session as the world awaits the results of the EU meetings over the weekend. The Aussie is a barometer of global risk, and
AUD/USD rose during the Friday session as the world awaits the results of the EU meetings over the weekend. The Aussie is a barometer of global risk, and it fared quite well as a result of the market getting excited about possible good news on Sunday. However, the 1.03 – 1.05 levels are just above, and continue to be very resistive. In fact, the pair didn’t break out of its recent consolidation yet, so we would wait. 1.05 has to be closed above on the daily chart for us to buy. On signs of weakness and/or bad news – we are sellers.
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.
