AUD/USD Forecast April 12, 2016, Technical Analysis

The AUD/USD pair initially tried to pull back during the course of the session on Monday but then ended up rallying. This is a market that continues to consolidate between the 0.75 level, and the 0.77 level, and that means of course that we should continue to see choppiness. However, it appears that there is a fairly strong amount of support just below, and of course we have had an impulsive rally recently as well. With this, we still believe that the market will eventually try to reach the 0.80 level above.