AUD/USD Forecast January 21, 2016, Technical Analysis

The AUD/USD pair fell during the day on Wednesday, but bounced off of the lows again, and therefore ended up forming a hammer. The hammer of course is a bullish sign, and as a result we could get a bit of a bounce from here. Nonetheless, we recognize that we are in a very negative market, and therefore we don’t really like the idea of buying anyway. A break down below the bottom of the hammer is very negative, and would have us selling rather rapidly. Regardless, we feel the Australian dollar has more room to the downside. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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