AUD/USD Forecast June 23, 2016, Technical Analysis

The AUD/USD pair rose during the course of the session on Wednesday, breaking out to a fresh, new high. However, we are still fighting more of a grind than anything else. Ultimately, this is the market to watch as it is avoiding both the European and British currencies, and could give us an idea of what the risk appetite will be around the world. Also, you have to keep in mind that gold is highly influential on what’s going on with the Australian dollar, so we could get a bit of a boost from the gold market showing bullish pressure.