AUD/USD Forecast April 24, 2017, Technical Analysis

The Australian dollar had a slightly positive session on Friday as we approach the 200-day exponential moving average. The 0.75 level has been support, and I do see a significant amount of resistance at the 0.76 level above. Because of this, I think we have a slightly upward bias, but pay attention to gold as it is a major driver of the Australian dollar. If we can break above the $1300 level over there, the Australian dollar will go much higher. Alternately, if we can break down below the 0.7450 level, the market should continue to go lower.

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