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 0.75 and 0.77 handle. Selling is not an option at the moment as we see 0.74 handle as being floor for this market.
AUD/USD Daily Forecast – 13 April
Aussie spent most of the Tuesday's session in an uptrend after it formed support around 0.76 handle, however area near 0.77 level offered some amount of resistance. Tomorrow, any type of supportive candles around 0.7630 and 0.76 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.
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