AUD/USD Forecast February 3, 2017, Technical Analysis

The AUD/USD pair continues to show strength, as we broke out during the day on Thursday. However, we did get a little bit overextended so I feel that the market will probably drop from here to find enough buying pressure. This is nonfarm payroll Friday in America, so that of course will have a lot of influence on what happens next, and with that being the case it makes quite a bit of sense to step to the side and wait for value. I believe that there is a massive amount of support at the 0.76 level now.