AUD/USD Forecast June 20, 2016, Technical Analysis

The AUD/USD pair went back and forth during the course of the day on Friday, and as you can see the 0.74 level seems to be a bit of a magnet for price. With that being the case, I believe that the market breaking above the hammer from the Thursday session would be reason enough to go long, and as far as selling is concerned, I don’t have any real interest in doing so. Ultimately, there’s going to be a lot of volatility in this pair, as the Federal Reserve looks a bit shaky at the moment as far as interest-rate hikes are concerned, but at the same time the Reserve Bank of Australia has recently cut interest rates.