AUD/USD Forecast February 12, 2016, Technical Analysis

The Australian dollar dropped to the 0.70 level against the US dollar during the day on Thursday, but found enough support there to turn things around and form a hammer. However, we are in a very choppy region right now so at this point time we don’t necessarily believe in risking any money in this market. For short-term traders, they will continue to push this pair between the 0.70 level on the bottom, and the 0.72 level on the top. We will be on the sidelines, just simply because we know there are better trades out there.