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AUD/USD Forecast January 5, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 05 January 2016 06:12 UTC

The AUD/USD pair fell during the day on Monday, reaching towards the bottom of the ascending triangle that we have been trading in. With this, we believe that it is only a matter of time before the buyers get involved, so we are very hesitant to start selling. However, if we broke down below the 0.71 level, at that point in time we would be more than comfortable selling. Gold markets are certainly not helping the Australian dollar, and as a result we anticipate that breaking down is a very real possibility.

AUD/USD Forecast January 5, 2016, Technical Analysis

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