AUD/USD Forecast December 8, 2016, Technical Analysis

The AUD/USD pair initially fell on Wednesday, but turned around to form a nice-looking hammer. It appears that we are trying to break above the 0.75 level, which has been massively resistive. If we can break above there, market should then reach towards the bottom of the uptrend line. This of course would be helped if we get a bit of a move to the upside in the gold markets, so pay attention to those as well. A break down below the bottom of the hammer on Wednesday would be a selling opportunity.