AUD/USD Forecast January 17, 2017, Technical Analysis

The AUD/USD pair had a volatile session on Monday, reaching towards the 0.75 level above. This is an area that is resistive, and until we can break above there and it close on a daily chart above it, I have no interest in buying. A breakdown below the bottom of a hammer from the front a session could have me selling, as I think the market will pull back to the 0.73 handle. Ultimately, pay attention to gold markets as they have such a massive influence on the Australian dollar in general.