In long-term trends we would be buyers for this pair with initial target set at 0.78 handle. If we see break above this pair pair could easily reach 0.80 handle where we can expect significant amount of resistance, with that being round psychologically important level. Selling is not an option at the moment as we see 0.74 handle as being floor for this market.
AU/USD Daily Forecast – 01 AprilD
Aussie once again tested 0.77 handle as a resistance in the course of the yesterday's session, but pulled back from this area, which is now key point for pair to continue its uptrend all the way to 0.78 handle which is something we were announcing for some time now. Tomorrow any type of supportive candles around 0.76 and 0.7580 handle in extension would be short-term buying signal, while resistive candles around 0.77 and 0.7750 level would offer short-term selling opportunity. We can expect quite volatile session with China's PMI and US NFP figures.
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