AUD/USD Forecast December 22, 2016, Technical Analysis

AUD/USD daily chart, December 22, 2016

The AUD/USD pair fell a bit during the session on Wednesday, as we continue to see quite a bit of resistance near the 0.73 level. I think that any short-term candle that looks suspiciously exhaustive it is probably reason enough to start shorting. Gold markets continue to be very weak, and that of course will work against the value of the Aussie going forward. I think that given enough time we will reach down to the 0.70 level, which of course is a large, round, psychologically significant number. Ultimately, I have no reason to think about buying this pair.

Written by FX Empire