AUD/USD Forecast July 16, 2015, Technical Analysis

The AUD/USD pair fell during the course of the session on Wednesday, breaking to a fresh, new low. That being the case, the market looks as if it is ready to go much lower, as the 0.75 level above continues to be the “ceiling” in this market. The Australian dollar course is going to suffer as most commodities look a little bit soft, so therefore we have no interest in buying this pair. In fact, every time this pair rallies on the short-term chart, we are sellers as we believe the market will then head down to the 0.70 level.