AUD/USD Forecast February 16, 2017, Technical Analysis

The AUD/USD pair initially fell on Wednesday, but found enough support to turn things around and break out to a fresh, new high. Because of this, I think we’re going to try to reach towards the 0.7750 level, which I have as resistance on longer-term charts. Short-term pullbacks continue to be buying opportunities going forward, so therefore a “buy on the dips” mentality can be taken off short-term charts. Have no interest in shorting, I believe that the 0.76 level will continue to be a bit of a floor in a market that looks very strong.