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AUD/USD Forecast August 11, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 11 August 2015 07:24 UTC

The AUD/USD pair fell during the course of the session on Monday, but found enough support near the 0.7350 level to turn things back around and bounce. Because of this, we ended up forming a hammer so this tells of course suggests that there is bullish pressure underneath. That bullish pressure could very well send this market looking for higher levels but we feel that the 0.75 level will continue to be massively resistive. With that being the case, we think that it is probably best to sit on the sidelines and wait for resistive or exhaustive candles in order to start selling yet again.

 

AUD/USD Forecast August 11, 2015, Technical Analysis

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