AUD/USD Forecast February 21, 2017, Technical Analysis

AUD/USD daily chart, February 21, 2017

The AUD/USD pair initially fell on Monday, but found enough bullish pressure at the 0.7650 level to show signs of continuation in the uptrend. The market should then reach towards the 0.7750 level. That area continues to be resistive, but given enough time I do believe that we will continue to break out to the upside and reach towards the 0.80 level. Pullbacks of the 0.76 level should be supportive enough to keep the market going higher. Pay attention to gold, it’s trying to build up aboard momentum as well, and if it takes off, the Australian dollar will as well.

Written by FX Empire