AUD/USD Forecast August 26, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 26 August 2016 05:58 UTC
The AUD/USD pair initially tried to rally during the course of the session on Thursday, but failed and ended up turning around and forming a shooting star. This being the case, the market is very likely to continue to go lower, and as a result we could drop from here but I also recognize that there is a lot of support just below. A break above the top of the shooting star would be bullish, but I also recognize is a lot of resistance above there. Ultimately, this is a market that I’m standing on the sidelines.

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.