AUD/USD Forecast July 23, 2015, Technical Analysis

The AUD/USD pair fell during the day on Wednesday, testing the 0.7350 level again. The markets are most certainly negative at the moment, and therefore we look at this market as one that offers plenty of selling opportunities on short-term charts. We believe that short-term rallies that show signs of trouble are going to be opportunities to go short yet again. In fact, we have no interest whatsoever in buying this pair until we get well above the 0.76 level, and currently believe that the market is heading to the 0.70 handle given enough time.