AUD/USD Daily Forecast - 21 March

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Friday, Mar 18 2016

Aussie was initially pushed higher in the course of the session on Friday, but found area around 0.7680 level to be too resistive at the moment in order to pullback to 0.76 handle, where pair found some amount of support by daily and weekly closing. As for Monday, we can expect a bit steadier session any type of supportive candles around 0.7550 and 0.75 handle in extension would be short-term buying signal, while resistive candles around 0.7650 and 0.7680 level would offer short-term selling opportunity.

In long-term trends, we would be buyers for this pair with initial target set at 0.78 handle. Selling is not an option at the moment with 0.74 handle being floor for this market.

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