AUD/USD Forecast August 29, 2016, Technical Analysis

The Australian dollar initially tried to rally during the course of the day on Friday, but turned right back around to form a very negative looking candle. We informed three shooting stars in a row on the weekly chart, so I think that we may be starting to see a rollover when it comes to this market. I don’t think it’s going to be easy though, I expect quite a bit of volatility in choppiness. You will have to pay attention to the gold markets, they of course will have a major influence on the Australian dollar as usual.