AUD/USD Forecast April 20, 2017, Technical Analysis

The AUD/USD pair fell significantly during the day, testing the 0.75 level. There is a significant amount of support just below though, so if we do breakdown it’s going to be a difficult market to sell. If we break below the 0.7450 level, I think that the market will then go down to the 0.74 handle. Any bounce from here could be a selling opportunity at the upside, on signs of exhaustion. If we can break above the top of the shooting star from the Monday session, then it becomes a market that you want to start buying.