AUD/USD Forecast August 1, 2016, Technical Analysis

The AUD/USD pair rallied during the day on Friday, breaking the top of a couple of candles previously printed during the week. With this, I believe that the market continues to go higher as we crashed into the 0.76 level. We should continue to go much higher, and pullbacks should continue to offer buying opportunities as well. I have no interest in selling the Aussie dollar at the moment, but do recognize that overall we are consolidating. If the gold markets continue to show strength, the Aussie should continue to go much higher.

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