AUD/USD Forecast February 9, 2017, Technical Analysis

The AUD/USD pair rallied during the day on Wednesday, showing signs of life again. This is a market that has recently rallied, and thus it looks as if the 0.75 level is going to continue to be supportive. Eventually, the market should then go to the 0.7750 level, which has been resistive. The gold markets look healthy, and that should continue to rally the Australian dollar as well. Regardless, there is going to be a lot of volatility in this market, as the rally has been so brutal and rapid. Nonetheless, selling is all but impossible.

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