AUD/USD Forecast August 2, 2013, Technical Analysis

The AUD/USD pair went back and forth during the session on Thursday, printing a relatively neutral candle, it does look a bit like a shooting star though, and as a result we think this market should continue to drift lower. That being the case, we are selling a break of the bottom as we think the Australian dollar could go as low 0.85 in the short term. It might be a little bit of a bumpy ride, but quite frankly the longer-term trend of the Aussie dollar looks absolutely horrible at this point in time.



Written by FX Empire