AUD/USD Forecast June 29, 2016, Technical Analysis

The Australian dollar initially bounced against the US dollar during Tuesday, but gave back most the gains in order to form a bit of a shooting star. This is a negative sign, and therefore the pair is simply trying to build up enough momentum to break down. AUD/USD aims for  dowtrend, and have no interest in going up at this point in time as there is going to be a considerable amount of uncertainty out there, something that doesn’t do much for the value of the Australian dollar going forward.

Economic Calendar