AUD/USD Forecast March 28, 2017, Technical Analysis

The AUD/USD pair initially tried to rally during the day on Monday, but turned around to form a negative candle. It looks as if the 50-day exponential moving average underneath will continue to offer support. However, even if we break down below there we have the 61.8% Fibonacci retracement, which typically is supportive as well. Because of this, I’m waiting to see some type a supportive candle in order to start buying. At that point, I would anticipate that the market should reach towards the 0.7750 level above. Pay attention to gold, it’s rising and it could help.

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