AUD/USD Forecast March 3, 2017, Technical Analysis

AUD/USD daily chart, March 03, 2017

The AUD/USD pair broke down significantly during the day on Thursday, forming a very bearish candle. However, there are still plenty of support underneath current trading levels, and extending all the way down to the 0.75 handle. That’s an area that’s massively supportive, so having said that I think that the buyers will return eventually. If we break down below the 0.75 level, that would be massively negative, but I still believe that even with this massive red candle, we still have a lot of work to do before that could happen. With this, I await a supportive candle.

Written by FX Empire