The AUD/USD pair fell slightly during the course of the session on Wednesday, as we continue to consolidate just above the 0.70 level. With this, it’s very likely that the market could bounce from here, but we look at any bounce as a potential selling opportunity as the US dollar continues to be one of the strongest currencies in the Forex market. If we can break down below the 0.70 level, the market should then go down to the 0.69 level. Below there, then we get a much larger move. In the meantime, we feel this market will be very volatile and choppy.
