AUD/USD Forecast March 2, 2016, Technical Analysis

The AUD/USD pair broke higher during the course of the session on Tuesday, but we still see quite a bit of resistance above that could keep this market somewhat negative. Yes, we’ve been grinding higher for some time, but at the end of the day you have to look at the fact that the previous uptrend line has held as resistance. Also, you have to wonder whether or not fears of a slowdown in Asia will continue to put on pressure when it comes to the Aussie dollar. Ultimately, we are simply looking for exhaustive candle in order to start selling.