AUD/USD forecast for the week of August 31, 2015, Technical Analysis

The AUD/USD pair initially fell during the course of the week, but found enough support below to turn things back around and form a hammer. With this, we find it very interesting as the gold markets did see a little bit of positive action during the course of the week as well. With this, it’s likely that if we can break the top of this hammer, this market should then head to the 0.75 handle. That area should be rather resistive though, so we think that it’s only a matter time before the sellers reenter the marketplace.