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AUD/USD Forecast October 8, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 08 October 2015 05:01 UTC

The AUD/USD pair broke higher during the course of the day on Wednesday, breaking above the 0.72 level. However, we see a significant bit of resistance just above, and as a result we are waiting to see whether or not we get a resistive candle to start selling. The market is a bit overextended at this point so it would not be that big of a surprise. With this, we would be willing to sell, but recognize that a move above the 0.73 level negates all of the downward pressure that we are concerned about and could have us starting to look for pullbacks as opportunities to start buying.

 

 

 

 

 

 

 

AUD/USD Forecast October 8, 2015, Technical Analysis

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