AUD/USD Forecast November 29, 2016, Technical Analysis

AUD/USD daily chart, November 29, 2016

The AUD/USD pair rallied on Monday, testing the 0.75 level above. This is the top of a significant resistance barrier, which is essentially a “zone.” I think that given enough time will get an exhaustive candle that we can start selling, but we don’t have it yet. Short-term traders may be already trying to push this market lower, as the 0.75 level is massively resistive. A break above there would be very bullish but also unlikely due to the fact that we not only have that level, but we have a lot of noise just above. If gold falls, this pair will as well.