AUD/USD Forecast December 19, 2016, Technical Analysis

The AUD/USD pair broke down on Friday, making a fresh, new low. The 0.73 level is broken, and as a result it looks like we are going to continue to go lower. Any short-term rally at this point should be a selling opportunity, especially on signs of exhaustion. A break down below the bottom of the range for the day is also a selling opportunity as I believe the Australian dollar will try to reach down to the 0.70 level underneath. As gold falls, so does the Aussie, and gold certainly looks like it’s about to do that.