AUD/USD Forecast March 15, 2016, Technical Analysis

The AUD/USD pair broke down a bit during the course of the session on Monday, testing the 0.75 level. However, there is a significant amount of support just below, reaching down to the 0.74 handle. With this, we are simply waiting to see whether or not we get a supportive candle that we can start buying. After all, the move above the 0.75 level was fairly strong, and therefore it makes sense that we would continue to find buyers in a market that is obviously very bullish all of a sudden, especially of the last couple of weeks.