AUD/USD Forecast September 13, 2016, Technical Analysis

The Australian dollar initially fell during the course of the session on Monday, testing the 0.75 level. However, this large, round, psychologically significant number offers a buying opportunity on a break above the top the hammer, and should send the market looking for the 0.77 handle again. A break down below the 0.74 would be very negative, and at that point in time I feel that the sellers would jump back in. However, I have to say that the bullish pressure certainly looks as if it is starting to take over the market.