AUD/USD Forecast February 13, 2017, Technical Analysis

The AUD/USD pair rallied on Friday, testing the recent highs. I believe that there is a significant amount of resistance above, especially at the 0.7750 level. If we can break above there, the market will continue the longer-term moved to the upside. The Australian dollar has been very strong, and gold markets of course will have a massive influence on this market. If the gold markets can rally, I believe that we will eventually break out above the top of the resistance barrier. Pullbacks of this point should be a nice buying opportunity as there is plenty of support below at the 0.76 handle.