AUD/USD Forecast Today 15/05: Gives Back Gains (Video)
(MENAFN- Daily Forex)
But at the end of the day, I think really, you've got a situation here where the market is just simply going sideways. It's hanging around the 200 day EMA. And it just doesn't have anywhere to be. As long as that's going to be the case, the market is likely to continue to see sellers near the 0.65 level and buyers near the 0.635 level.
On the Breakout
Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money
If and when we can break out of this area, then I think maybe you have about a 150 pip move in one direction or the other, as it would line up quite nicely with previous support near the 0.62 level and previous resistance at the 0.67 level if we were to in fact break higher.
EURUSD Chart by TradingView
With that, if you're a short term range bound trader, this is a great market for you if you are looking for swings, that type of thing you might have to be a bit patient when trading this pair at the moment.
Ready to trade our AUD/USD Forex analysis ? Here's a list of the best brokers FX trading Australia to choose from.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
