AUD/USD Forecast August 10, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 10 August 2016 08:18 UTC
The AUD/USD pair fell initially during the course of the session on Tuesday, but turned back around to form a hammer as we press up against the massive resistance at the 0.7675 level. With this being the case, the market looks as if we are getting ready to go higher, and that will be especially true if the gold markets continue to rally. With this being the case, I am a buyer the Australian dollar overall and believe that eventually we will break out to the upside for a longer-term move. I have no interest in selling at the moment.

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.