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 – 05 April
Aussie pulled back in the course of the yesterday's session, after weaker than expected Australian Retail Sales figures. However, 0.76 handle proved to be supportive for the pair. Tomorrow, focus will be on RBA interest rate decision and the following statement. Any type of supportive candles around 0.7580 and 0.7550 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.
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