AUD/USD Daily Forecast - 23 March

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Tuesday, Mar 22 2016

Aussie spent yesterday's session in an incline, breaking above 0.76 handle, supported by rise in gold prices. However, pair found resistance around 0.7650 level and pulled back by the end of the session. As for Wednesday, we can expect another steadier session in which any type of supportive candles around 0.7580 and 0.7550 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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