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.
AUD/USD Daily Forecast – 04 April
Aussie once again tested 0.77 handle as a resistance in the course of the Friday's session, but pulled back from this area, after better than forecasted US NFP figures, though pair found support around 0.76 handle. Focus of Monday's session will be on Australian Retail Sales figures. 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 0.7720 level would offer short-term selling opportunity.
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