AUD/USD Forecast January 24, 2017, Technical Analysis

The Australian dollar rallied on Monday, reaching towards the 0.76 level above. There is a lot of noise above here, but we have seen a substantial amount of bullish pressure in this pair. I believe that the 0.75 level underneath is massively supportive, so pullbacks will probably attract buyers. Given enough time, I think that we should pay attention to the gold markets, as they do have a longer-term effect on the Aussie. Ultimately, the 2 will interact with each other and I believe that if one starts the fall, the other one will and of course vice versa.

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