AUD/USD Forecast September 6, 2017, Technical Analysis

AUD/USD daily chart, September 06, 2017

The Australian dollar went sideways during the session on Tuesday originally, but then broke above the vital 0.80 level. If we break above this level and stay above it for a daily close, I think this is a significant turn of events, and the Australian dollar could become more of a “buy-and-hold” proposition. That’s not to say that there won’t be volatile moves from time to time, but the 0.80 level is vital going back decades. Because of this, I think that the market will eventually go much higher, but patience will be needed in this longer-term move.

Written by FX Empire