Will Equity Market Break Encourage AUD USD Selling?

The question of the day is will the AUD USD weaken if U.S. equity markets start to break hard?

Intraday Analysis

AUD USD

The question of the day is will the AUD USD weaken if U.S. equity markets start to break hard?

At this time the Aussie is in a strong position to test this week’s high at .8337 but a sharp break in U.S. equity markets later in the day may encourage selling as the AUD USD approaches that level.

Although this currency pair may find resistance at the high for the week, it doesn’t appear to be in any major trouble unless it closes under .8171.  This move would reverse the week to down and trigger the start of a major correction next week. 

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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