AUD/USD Forecast November 21, 2016, Technical Analysis

The AUD/USD pair fell on Friday as we continue to see a lot of weakness in the Aussie dollar. This is a market that should continue to go lower as there is most certainly a massive amount of bearish pressure on this market. Also, the gold markets haven’t exactly been on fire, so that’s not offering any type of support for the Aussie either. With this, I believe that short-term rallies will continue to be selling opportunities going forward. I have no interest in buying this market, and think that the 0.7450 level above should continue to be resistive and essentially the “ceiling” in this market.