AUD/USD Daily Forecast - 24 March

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Wednesday, Mar 23 2016

After it initially did not manage to break above 0.7650 handle, Aussie was pushed lower in the course of the yesterday's session, all the way to 0.7520 level where it found some amount of support. As for Thursday, we would pay attention to US figures as there will be no data releases from Australia. Any type of supportive candles around 0.75 and 0.7450 handle in extension would be short-term buying signal, while resistive candles around 0.76 and 0.7650 level would offer short-term selling opportunity.

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

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