AUD/USD Forecast June 8, 2016, Technical Analysis

The AUD/USD pair broke higher during the day on Tuesday, as we have cleared the 0.74 level. At this point in time, it looks as if the market is ready to go much higher and challenge the 0.75 level. If we get above there, becomes more of a “buy-and-hold” type of situation although there is quite a bit of noise above. Pullbacks should be well supported, and as a result I have no interest in selling this market until we get below the 0.73 level, which looks very unlikely at this point in time.