AUD/USD Forecast July 17, 2015, Technical Analysis

The AUD/USD pair bounced slightly during the session on Thursday, but remains a very be down. The market should continue to be one that you can sell on rallies, as this market continues to consolidate overall below the 0.75 handle. With that, we are bearish in general of the Aussie, as the commodity markets of course have been beaten up quite significantly. We believe that the market will ultimately head down to the 0.70 level, as that is the next large, round, psychologically significant number on the longer-term charts. We have no interest in buying at all.