AUD/USD Daily Forecast - 30 March

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Tuesday, Mar 29 2016

Aussie once gain tested 0.75 handle as a support in the course of the yesterday's session and was then pushed higher, breaking above 0.76 handle, thus forming a hammer, which is of course a bullish sign. Incline was mostly caused by dovish Janet Yellen's remarks concerning rate hike. Tomorrow any type of supportive candles around 0.7550 and 0.7520 handle in extension would be short-term buying signal, while resistive candles around 0.7680 and 0.77 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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