The AUD/USD pair has been very choppy during the session on Monday, essentially hovering around the 0.8025 level. The 0.80 level under there is going to
The AUD/USD pair has been very choppy during the session on Monday, essentially hovering around the 0.8025 level. The 0.80 level under there is going to be massively supportive, and ultimately, I think that if we pull back to that level, it’s only a matter of time before the buyers get involved. Given enough time, we should continue to reach towards the 0.81 handle above, and perhaps even a breakout above there. Pay attention to gold, it has a massive influence on this market, so we will have to wait and see if it can continue to pick up its value. If it does, then I’m a buyer of the Aussie.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
