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. However, pair is now consolidating a bit in an area between 0.7450 and 0.7650 handle. Selling is not an option at the moment as we see 0.74 handle as being floor for this market.
Last modified on Friday, 08 April 2016AUD/USD Daily Forecast – 11 April
Aussie spent most of the Friday's session in an uptrend after it formed support around 0.75 handle, however 0.7580 level offered some amount of support. As for Monday, we would pay attention to China's CPI and PPI figures. Any type of supportive candles around 0.75 and 0.7480 handle in extension would be short-term buying signal, while resistive candles around 0.76 and 0.7630 level would offer short-term selling opportunity.
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