AUD/USD Forecast December 16, 2016, Technical Analysis

The AUD/USD pair fell during the day on Thursday, reaching towards the 0.73 level below. That is an area of that is massively supportive, but I think we will break down below there given enough time. Anytime we rally should be an opportunity to sell on signs of exhaustion. A break down below the 0.73 level should send this market looking for the 0.70 level which is a very reasonable assumption, due to the fact that the gold markets or falling apart and should continue to do so as the US dollar is favored overall.