Australian dollar FX Empire

AUD/USD Price Forecast – Australian Dollar Continues to Chop Around

Australian Dollar vs US Dollar Technical Analysis

The Austrian dollar has gone back and forth during the trading session on Friday, as we continue to see a significant amount of volatility. Quite frankly, this is the market that I think will eventually find a way to rally and then see sellers, which is exactly where I want to be. I would like to pick up “cheap US dollars” when I get an opportunity, but I also recognize that the market moves on its own time, and therefore you do not necessarily know when you’re going to get that opportunity.

The 0.67 level above is the hard “ceiling in the market”, but I don’t necessarily know that we get there anytime soon. We may have to accept the fact that shorting might have to be done at lower levels. Regardless, this is a market that is oversold so at the very least you would expect to see a significant amount of consolidation before we continue lower. Breaking down below the 0.67 level was a major turn of events, and therefore shows just how negative this market is. Given enough time, I would anticipate that area to be very difficult to overcome. As we are hanging around the 0.65 level, I think it makes sense that we go back and forth.

Keep in mind that the Australian dollar is highly levered to commodities, as well as the Asian economy. Both of those are in serious trouble at the moment, so it does make sense that the Aussies will continue to see their currency dropped. As long as we are in a major “risk off environment”, it’s difficult to imagine this currency pair getting overly bullish anytime soon.

AUD/USD Price Forecast Video for 03.10.22

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