AUD/USD Forecast December 28, 2016, Technical Analysis

The AUD/USD pair did almost nothing on Tuesday as traders came back, so I believe that any time we rally from here sellers will step back into this market and punish the Australian dollar every time he tries to rally. We are a bit oversold currently though, so we could see a bit of a bounce. Look at that as potential value in the greenback more than some type of buying opportunity. After all, gold markets continue to look very soft, so that should continue to work against the value the Aussie in general.