AUD/USD Forecast April 24, 2017, Technical Analysis

AUD/USD daily chart, April 24, 2017

The Australian dollar had a slightly positive session on Friday as we approach the 200-day exponential moving average. The 0.75 level has been support, and I do see a significant amount of resistance at the 0.76 level above. Because of this, I think we have a slightly upward bias, but pay attention to gold as it is a major driver of the Australian dollar. If we can break above the $1300 level over there, the Australian dollar will go much higher. Alternately, if we can break down below the 0.7450 level, the market should continue to go lower.

Written by FX Empire