AUD/USD Forecast February 2, 2016, Technical Analysis

The AUD/USD pair rallied rather significantly during the course of the session on Monday, and as a result it looks like we are going to try to test the bottom of the previous uptrend line. Ultimately, we believe that serious decisions will have to be made in that general vicinity. If we can break above there, that’s a very bullish sign. However, if we cannot it’s very likely that the market will turn back around. We are waiting to see whether or not we react with strength or weakness that I line, and we will make a decision at that point in time.