AUD/USD Forecast November 2, 2016, Technical Analysis

The Australian dollar rally during the day on Tuesday, exploding to the upside and showing real strength. However, we ended up falling a bit towards the end of the range as we are approaching significant resistance. A pullback from here will more than likely offer value on the shorter-term chart though, so we see some type of supportive candle it’s time to start buying again. I recognize that the 0.7750 level above is massively resistive, but if we break above there I think it leads into more of a “buy-and-hold” type of situation.

Eracash.com - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. Eracash.com bears no responsibility for any trading losses you might incur as a result of using any data within the Eracash.com