AUD/USD Forecast November 1, 2016, Technical Analysis

The AUD/USD pair broke higher during the day on Monday, clearing the top of the hammer. With this being the case, it looks as if the market should continue to try to grind higher. I do recognize that there is a massive amount of resistance above starting at the 0.77 handle, so it’s possible that we need to pull back several times to finally make the breakout that is needed. Once we get above there, the market could very well go higher over the longer term. At this point, I have no interest whatsoever in selling.