AUD/USD Forecast December 23, 2016, Technical Analysis

The Australian dollar had a volatile session on Thursday as we continue to bang around at fresh, new lows. I believe that the market is going to reach down to the 0.70 level underneath, and at this point I’m a seller of any rally that shows signs of exhaustion. Gold markets look very soft and don’t have anything along the lines of major support until we get much lower, and this of course will continue to work against the value of the Australian dollar going forward. With this, I remain a seller overall.