AUD/USD Forecast April 19, 2017, Technical Analysis

AUD/USD daily chart, April 19, 2017

The AUD/USD pair fell during the trading session on Tuesday, touching the 200-day exponential moving average. I still think there’s a significant amount of support below at the 0.75 level, so a supportive candle could be a buying opportunity. If we break above the top of the shooting star from the Monday session, that would be a very bullish sign as well, so either way I think the easier to trade now is to go long. However, we need gold to help us as well, as there is such a high correlation between the 2 markets.

Written by FX Empire