AUD/USD Forecast October 24, 2016, Technical Analysis

The AUD/USD pair initially tried to rally during the day on Friday, and then turned back around to show a significant candle. At this point in time, the market breaking down below the bottom of the candle would be reason enough to short, just as a rally that show signs of exhaustion will be reason enough to start selling as well. I still believe that we are ultimately consolidating between the 0.75 level on the bottom and the 0.7750 level on the top of this recent range. Volatility is going to remain in this market.