AUD/USD Forecast February 24, 2017, Technical Analysis

The Australian dollar went back and forth during the day on Thursday, as we banged into the 0.7750 barrier. This is an area that should continue to cause quite a bit of resistance, so I think that a pullback makes a lot of sense. However, if we can break above the 0.7750 level, the market will more than likely continue to go towards the 0.80 level. At the 0.7650 level underneath, I expect to see quite a bit of support. Expect a lot of choppiness and back and forth training over the next several sessions, and that the markets going to take its cues from the gold markets as per usual.

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