AUD/USD Forecast January 13, 2017, Technical Analysis

The AUD/USD pair rallied during the day on Thursday, testing the 0.75 level. That’s an area that I believe should be rather resistive, so if we can break above the top of the range for the session on Thursday, the market should continue to go much higher. Alternately though, if we form an exhaustive candle here, the Australian dollar could pullback, as it is a bit overextended. Pay attention to the gold markets, they of course have an influence on the Aussie dollar itself. Regardless, expect quite a bit of volatility no matter which direction we go.