AUD/USD Forecast December 19, 2011, Technical Analysis

AUD/USD fell below the parity level a few sessions ago, and Friday saw a very bearish candle as the day saw an attempt to rally above that parity level, only to form a shooting star at the close. The failure to rally above that parity level shows just how difficult it will be for the bulls to get back above that mark. The market looks very likely to continue lower to fill that gap form a couple of weekends ago, and we are selling weakness in order to join that move. We are not buying the Aussie at all in this environment of fear.