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 – 15 April
After it initially fell, Aussie found support around 0.7620 level and was pushed higher after better than forecasted Australian job figures, going all the way to 0.7730 level where pair found resistance and pulled back slightly. Focus of tomorrow's session will be on China's GDP figures. Any type of supportive candles around 0.7650 and 0.7620 handle in extension would be short-term buying signal, while resistive candles around 0.7730 and 0.7760 level would offer short-term selling opportunity.
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