AUD/USD Forecast February 7, 2017, Technical Analysis

The Australian dollar fell during the Monday session, as we continue to see volatility in the Forex markets. I still believe that there is a significant amount of support just below though, so I’m looking for buying opportunities near the 0.76 handle. We are in an uptrend, but have seen a little bit of an overextended market as of late. This pullback should offer value the traders are willing to take advantage of. I believe that support runs all the way down to the 0.75 handle below, if not lower. Resistance is to be found at the 0.7750 level.

Economic Calendar