AUD/USD Forecast October 2, 2014, Technical Analysis

The AUD/USD pair rose during the course of the day on Wednesday, showing that the market is ready to continue consolidating in this area. We see the 0.88 level above as being resistive, so we feel that any short-term rallies will more than likely find sellers. This being the case, the market looks as if it is one that should be sold on short-term charts, after failed it rallies. The market appears to be one that wants to go lower, probably heading to the 0.85 level, the next significant support level on the longer-term chart.