AUD/USD Forecast July 26, 2016, Technical Analysis

The AUD/USD pair initially tried to rally during the day on Monday, but turned back around to form a bit of a shooting star. I think that if we can break above the 0.75 level, that would be a significant enough move to the upside to push this market higher. I believe that this market breaking down from here could be sold, but there is a lot of noise just below that should continue to make this market very choppy if we do fall. So having said that, I am essentially “buy only” but only under the right circumstances.