The AUDUSD has been very noisy over the past week, as the 0.67 level was tested for support: Forex Trading Forecast Profit
has rallied a bit during the course of the week to clear the parity level. By doing so, the market looks as if it is going to continue to hang about the parity level, and I think that will be what happens over the next several sessions, we simply go back and forth in this general vicinity. Rallies at this point in time should be shorting opportunities, happening at the first signs of exhaustion. The 1.02 level will more likely than not end up being a bit of a resistance barrier.
The ¥140 level underneath should be supported, but if we break it down below there, the market is likely to go looking toward lower levels for buyers.AUD/USD has been very noisy over the past week, as the 0.67 level was tested for support. The 0.67 level has been supported multiple times, so it does make a certain amount of sense that we would see a lot of noise in that general vicinity, and I think that will continue to be the theme going forward over the next several sessions: that we have a major support level underneath that will continue to cause buying pressure. If we were to break down below there, then the market is likely to go much lower.
Fading rallies will continue to be the way I treat the British pound, but I also recognize that we are oversold. This week may be all about a bounce, but I have no interest in buying.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Latest line: A good week for Tahoe ski resorts, a bad week for Big TobaccoStorms dump four feet of snow in prime Sierra ski areas, and tobacco companies lose a major lawsuit
Read more »
Human remains found in basement of home in the Wissinoming section of PhiladelphiaThe home has been the focus of a police investigation this week.
Read more »
Jennifer Lopez Pairs a Wintry Puffer Vest with Oversized Cargo PantsThe superstar's latest street style look brings a sporty vibe to holiday dressing.
Read more »