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AUD/USD Forecast January 12, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 12 January 2016 05:46 UTC

The AUD/USD pair initially tried to rally during the course of the session on Monday, but turned back around to form a massive shooting star. The shooting star of course is a negative sign, and as a result we feel that this market is going to break down rather significantly. Having said that though, we recognize that the market has seen a little bit of support just below, so it will probably be a situation where we simply sell short-term rallies in order to play short-term trades going forward. We have no interest whatsoever in buying.

AUD/USD Forecast January 12, 2016, Technical Analysis

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