AUD/USD Forecast April 21, 2017, Technical Analysis

The Australian dollar rallied during the day on Thursday, using the 0.75 level as a springboard. It looks as if the market is going to try to go back towards the 0.76 handle, but at the first signs of exhaustion or negativity, I think the market will roll right back over. Pay attention gold, if it can rally it’s likely that the Australian dollar will follow suit. Ultimately, this is a market that should continue to be choppy, but I think the real action is to be had if we can break above the 0.76 level, or below the 0.7450 level. In the meantime, it’s very back and forth.