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AUD/USD Forecast March 9, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 09 March 2016 06:02 UTC
The AUD/USD pair initially fell during the course of the day on Tuesday, testing the 0.74 area. We turned right back around in order to form a slightly positive candle, but we are getting fairly close to the 0.75 level, an area that should be rather resistive due to the fact that it is a large, round, psychologically significant number, and of course had significance in the past on historical charts. We have notched in selling, as it seems as if the market has been rather well supported recently. Once we break above the 0.75 level, we feel that the Aussie will continue to go much higher.

 

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