AUD/USD Forecast October 6, 2016, Technical Analysis

The AUD/USD pair went back and forth during the course of the session on Wednesday, forming a relatively neutral candle. I think that the market will continue to go back and forth in the larger consolidation area, so this point in time I don’t really have any interest in buying the Australian dollar. However, it is interesting to consider that the gold markets have been falling rather stringently, but the Aussie has been fairly quiet. Ultimately though, I’m on the sidelines and waiting to see some type of clarity in this currency pair.