AUD/USD Daily Forecast - 29 March

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Monday, Mar 28 2016

Aussie found support around 0.75 handle in the course of the Monday's session and managed to break higher all the way to 0.7550 area, where pair found some amount of resistance. After less volatility due to Easter holiday we can expect that tomorrow some liquidity will return to the markets. Tomorrow any type of supportive candles around 0.75 and 0.7480 handle in extension would be short-term buying signal, while resistive candles around 0.7580 and 0.7620 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 as we see 0.74 handle as being floor for this market.

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