AUD/USD Forecast December 7, 2016, Technical Analysis

AUD/USD daily chart, December 07, 2016

The AUD/USD pair fell during the day on Tuesday, as we continue to see quite a bit of resistance near the 0.75 handle. A break down below the bottom of the candle should continue to send this market lower. I believe that the market will then reach towards the 0.73 handle. Pay attention to gold, because as it falls it should continue to put significant pressure on this market. I believe that the 0.75 level should continue to be massively resistive and act as a “ceiling” in this market. If we do break above there, then we need to aim for the uptrend line above.