AUD/USD Forecast January 15, 2016, Technical Analysis

The AUD/USD pair initially tried to fall during the day on Thursday, but turned back around to form a positive candle. However, we think that the market is certainly consolidating at the moment, and as a result we are looking for resistive candle above in order to start selling again. With that being the case, the short-term charts might be the way to go, as the range seems to be fairly well defined between the 0.69 level on the bottom, and the 0.7050 level. At this point, it appears that this market isn’t ready to go very far.