AUD/USD Forecast October 21, 2014, Technical Analysis

The AUD/USD pair did almost nothing during the session on Monday, testing the 0.88 level above for resistance. The market looks very stagnant at this point in time, and the fact that we can’t really make any move in one direction or the other tells us that it’s probably best left alone as the Australian dollar continues to go sideways. However, the Australian CPI numbers come out this session, and it is likely that it could move the AUD/USD pair given enough time. Regardless, we feel that it’s very difficult to trade this market.