AUD/USD Forecast March 31, 2017, Technical Analysis

The AUD/USD pair initially fell during the session on Thursday, but found enough support at the 0.7650 level to turn things around and form a hammer. A break above the top of the range for the day should be very bullish and should send this market towards the 0.7750 level. Alternately, a breakdown below the hammer would be negative but I think there’s plenty of support just below to continue to push this market higher. Also, it should be kept in mind that the gold markets have been rather strong lately, and it appears that they are trying to break out which should help this market.