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AUD/USD Forecast January 20, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 20 January 2016 05:56 UTC

The AUD/USD pair rose during the course of the day on Tuesday, but sees quite a bit of a resistance barrier above, and extending all the way to the 0.71 level. Because of this, we are simply waiting for some type of resistive candle in order to start selling. With this, we have no interest in buying, and believe that it’s only a matter of time before the bearish traders get involved as this market has certainly broken down, and given enough time we feel that this market should continue to go much lower.

AUD/USD Forecast January 20, 2016, Technical Analysis

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