AUD/USD Forecast April 5, 2017, Technical Analysis

The AUD/USD pair broke down on Tuesday, testing the 200-exponential moving average. Even though this is a very bearish candle, I believe that buyers are coming soon. Longer-term traders pay quite a bit of attention to the 200-exponential moving average, and of course we of the psychologically significant 0.75 handle underneath. A supportive candle should be reason enough to go long, but I think that there is a massive ceiling at the 0.7750 level as well. Gold markets continue to struggle, so that is one of the bigger stories over here and the Aussie right now.