AUD/USD Forecast March 23, 2016, Technical Analysis

The AUD/USD pair initially fell during the day on Tuesday but found enough support just above the 0.75 level to turn things around and form a slightly positive candle. We believe in the longer-term uptrend anyway, and recognize that the gold markets get a bit of strength in them we could very well see this market go higher as well. Because of this, we are cautiously optimistic but need to see a little bit more of a supportive candle in order to get involved at this point. We believe that the absolute “floor” in this market is somewhere near the 0.74 level.