AUD/USD Forecast April 26, 2017, Technical Analysis

AUD/USD daily chart, April 26, 2017

Commodity currencies got beat severely during the session on Tuesday and of course the Australian dollar was no different. However, we are still consolidating as far as I can see so therefore I don’t have any interest in trading this market currently. I believe that a lot of back and forth trading is probably about to happen, so if you are a scalper this might be a nice opportunity, but beyond that I think it’s best to be on the sidelines until this market can make some type of impulsive candle for you to follow.

Written by FX Empire