AUD/USD Forecast June 17, 2016, Technical Analysis

The AUD/USD pair fell rather significantly during the course of the day on Thursday but found enough support down at the 0.73 level to turn things back around and form a hammer. The hammer of course has significance as it should be a positive sign, so we can break above the top of the range we might be able to reach towards the 0.75 handle. However, I don’t like the risk to reward ratio so I will simply sit on the sidelines at this point in time and wait for a better signal.