AUD/USD Forecast April 21, 2017, Technical Analysis

AUD/USD daily chart, April 21, 2017

The Australian dollar rallied during the day on Thursday, using the 0.75 level as a springboard. It looks as if the market is going to try to go back towards the 0.76 handle, but at the first signs of exhaustion or negativity, I think the market will roll right back over. Pay attention gold, if it can rally it’s likely that the Australian dollar will follow suit. Ultimately, this is a market that should continue to be choppy, but I think the real action is to be had if we can break above the 0.76 level, or below the 0.7450 level. In the meantime, it’s very back and forth.

Written by FX Empire