AUD/USD Forecast January 22, 2016, Technical Analysis

The AUD/USD pair initially fell during the open on Thursday, but then rallied to test the 0.70 level. We still think there is more than enough resistance above to keep this market down though, so we don’t have any real interest in buying. We think that an exhaustive candle could be an opportunity to start selling, especially if we can remain below the previous uptrend line that is marked on this chart. We have still quite a few concerns coming out of China, and as the Australian dollar is used as a proxy for that economy, we expect more weakness. - 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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