AUD/USD Forecast February 15, 2016, Technical Analysis

The AUD/USD pair went back and forth during the course of the session on Friday, as we hug the 0.71 handle. Ultimately, we think that this market is going to continue to bounce around between the 0.70 level, and of course the 0.72 level above. This is a market that we are going to stay on the sidelines from, as we do not have a real clarity but we do recognize that short-term scalpers will more than likely be attracted to the back-and-forth type of action that this market should continue to offer over the next several days.