AUD/USD Forecast December 6, 2016, Technical Analysis

The AUD/USD pair fell slightly at the open on Monday, but turned around to reach into the previous resistance. The 0.75 level above should be massively resistive, and as a result I’m waiting to see whether or not we get an exhaustive candle. We also have the uptrend line that had previously been so supportive on the chart, so I feel that it’s much easier to short this market been buying it. With this, I’m waiting to see whether we get an exhaustive candle that we can start taking advantage of the recent bearish pressure.

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