AUD/USD Forecast February 24, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 24 February 2016 05:57 UTC
The AUD/USD pair went back and forth during the day on Tuesday but turned back around to form a bit of a shooting star. The shooting star is right at the previous uptrend line that should now be resistance, an area that I suggest yesterday needed to be broken above in order for the buyers to take control. A pullback at this point in time it’s a lot of sense we can break down below the bottom of the range for the day on Tuesday, we are sellers. We think this is a short-term selling opportunity though, because there is more than enough support below to continue to cause volatility.



Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.