AUD/USD Forecast August 12, 2016, Technical Analysis

The AUD/USD pair went back and forth during the course of the session on Thursday, but looks very supportive and therefore I feel it’s only a matter of time before the Australian dollar continues to grind its way to the upside. Pullbacks at this point in time should be supported by the 0.7675 level, and with that being the case I think that although it’s going to be a very choppy market, it’s likely that the bullish pressure continues as the buyers should continue to be very aggressive due to the gold correlation.