AUD/USD Forecast February 11, 2016, Technical Analysis

The AUD/USD pair broke higher during the course of the session on Wednesday, as we continue to see quite a bit of bounce at the 0.70 handle. However, there is a significant amount of resistance just above as well, so we do not have any real interest in buying. At this point in time, it’s probably best just to sit on the sidelines and wait for some type of clarity. Given enough time though, we will get the impulsive candle that we need and we will start placing trades but until then will simply observe.