AUD/USD Forecast February 22, 2017, Technical Analysis

The AUD/USD pair fell on Tuesday, but found enough support near the 0.7650 level to turn things around to form a hammer. The hammer of course is a very bullish sign, and if we can break above the top of that I believe that we then go towards the 0.7750 resistance barrier again. If we can break above there, then the market will go hunting for the 0.80 level over the longer term. Pullbacks continue to be buying opportunities as the gold markets continue to look very healthy, influencing this pair as per usual.