AUD/USD Forecast February 5, 2015, Technical Analysis

The AUD/USD pair fell bit during the session on Wednesday, showing that the 0.78 level above is resistant. Ultimately, we feel that the Australian dollar will continue to soften, so we are looking to sell and breakdowns below the lows of the session, and of course fresh new lows as the market should then head to the 0.75 handle. The 0.80 level should end up being massively resistive, so at that point in time we would be looking to sell any resistive candles as it should continue to see the pressure mount.