AUD/USD Forecast May 3, 2016, Technical Analysis

The AUD/USD pair rose during the course of the session on Monday, as we continue to find buyers every time this market pulls down. Ultimately, it appears that the 0.75 level below is massively supportive, and with that being the case it’s only a matter time before we break out to the upside. Of note is the fact that the gold markets have pierced the $1300 level during the day, which of course is a major event. With this being the case, the Australian dollar should continue to go higher, right along with the precious metals market.