AUD/USD Forecast August 25, 2016, Technical Analysis

The AUD/USD pair went back and forth during the course of the session here on Wednesday, as we continue to try to build up enough momentum to make a significant move. At this point in time though, I feel that the Australian dollar is probably going to grind sideways as we are trying to break out to the upside, but simply don’t have enough momentum. Pay attention to the gold markets, because they of course have quite a bit of an influence on the Australian dollar itself. If they go higher, the Aussie will probably climb.