AUD/USD Price Forecast – Australian Dollar Stabilizing

The Australian dollar has done very little during the trading session on Thursday as the markets are stabilizing after a couple of volatile days. The Aussie dollar is still very much in an uptrend, so that is worth paying attention to, as the 0.72 level has offered support over the last couple of sessions. Furthermore, the Australian dollar is highly sensitive to the Chinese economy and all things China related, so that is also something worth paying attention to. With all of that being said, the stability in the uptrend it remains, and that of course is something that is very good to see if you are long of the Aussie.

AUD/USD Video 11.09.20

Underneath, we have the 50 day EMA lifting higher and break above the 0.71 handle, so at this point I think it is only a matter of time before buyers would return on any type of dips, as the Aussie has been so resilient. That being said, the market had gone straight up in the air for some time, and I think it is only a matter of time before we see some type of pullback again. However, time and time again we see pullbacks offer opportunities to go long, and I anticipate that will probably continue to be the case going forward. With this, I think that you have to remain bullish, but it may take some time for everything to go to fruition and play itself out. To the upside, I like the idea of the 0.74 level being targeted, and then eventually the 0.75 level after that.

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