AUD/USD Forecast May 1, 2017, Technical Analysis

The AUD/USD pair initially fell on Friday but found enough support at the 50% Fibonacci retracement level to bounce a bit. If we can break above the 0.95 handle, the market should continue to go higher. Ultimately, if we break down below the bottom of the range from the Thursday session, the market will then reach towards the 61.8% Fibonacci retracement level below. The Australian dollar is highly influenced by the gold markets, so a bounce in that market could cause the bounce above the 0.75 handle. However, if we break down below the $1240 level in the gold market, the Aussie dollar will collapse. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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