AUD/USD Daily Forecast - 22 March

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Monday, Mar 21 2016

Aussie was initially pushed higher in the course of the session on Monday, but found area around 0.7630 level to be too resistive at the moment in order to pullback to 0.7560 handle, where pair found some amount of support by daily closing. As for Tuesday, we can expect another steadier session in which any type of supportive candles around 0.7550 and 0.75 handle in extension would be short-term buying signal, while resistive candles around 0.7630 and 0.7650 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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