AUD/USD Forecast July 31, 2015, Technical Analysis

The AUD/USD pair initially fell during the course of the session on Thursday, but found enough support near the 0.7250 level again to cause a bounce and form a hammer. This hammer of course suggests that we are going to go higher again, but quite frankly we are just going to look at these rallies as selling opportunities. Ultimately, if we see some type of rally on a short-term chart that looks like it is getting exhausted, we are sellers of this market without hesitation. Ultimately, we have no interest in buying this pair until we get above the 0.75 handle.