AUD/USD Technical Analysis
The Australian dollar has rallied a bit during the trading session on Wednesday in the early hours, but it also looks like we are struggling. I think quite frankly, this is a market where money went to die. There’s just nothing here, and we’re stuck in the same range that we have been in for quite some time. If you are a short-term trader, then you like this setup because the 0.6350 level underneath offers massive support, while the 0.65 level above offers massive resistance. As we continue to chop back and forth, again, if you’re a short-term trader, this is your market. If you’re looking for a bigger trade, we have to break out of this consolidation area first.
