The AUD/USD pair initially tried to rally during the course of the day on Tuesday, but found itself struggling yet again. Because of this, we believe that the market is in fact going to try to reach down to the 0.70 level, and try to find some type of support. In the meantime, we feel that the market will continue to struggle overall, and short-term rallies could be selling opportunities as the Australian dollar continues to look very vulnerable. On top of that, gold markets fell during the session and look ready to continue going lower.
AUD/USD Forecast August 26, 2015, Technical Analysis