AUD/USD Forecast December 29, 2016, Technical Analysis

AUD/USD daily chart, December 29, 2016

The AUD/USD pair had a volatile session on Wednesday as we tried to rally, but gave up most of the gains. Ultimately, we ended up forming a shooting star like candle, and that means that we could see continue to perish pressure. With the very soft looking goal markets, that should continue to work against the value of the Australian dollar going forward. I am a seller and I believe that we go to the 0.70 level underneath. Rallies continue to be nice selling opportunities going forward on signs of exhaustion, with a special emphasis near the 0.73 handle.

Written by FX Empire