AUD/USD Forecast August 15, 2016, Technical Analysis

The Australian dollar initially tried to rally during the Friday session but back and sold off rather significantly. The shooting star that formed on Wednesday money been your first hint that we were running the trouble but quite frankly I see so much in the way of support below that sooner or later the buyers will step in and support this market. Keep an eye handle, it has an influence on this market as well, with that being the case I am bullish over the longer-term but recognize that we need to draft a little bit lower in order to find the value necessary to start buying.