AUD/USD Forecast August 22, 2016, Technical Analysis

The AUD/USD pair broke down during the course of the session on Friday, finding the market reaching for the 0.76 level. However, I think there is more than enough support below that sooner or later we will find buyers. There is so much in the way of noise I think that the first supportive candle that you see it could be representative of “value” in the Australian dollar, as we have seen quite a bit of pressure just above. However, I think that this is a pullback rather than a break down.