AUD/USD Daily Forecast – 18 April

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Saturday, Apr 16 2016

Aussie was traded in a tighter range in the course of the Friday's session, with support around 0.7680 level and resistance above 0.7730 area. On Monday, any type of supportive candles around 0.7680 and 0.7650 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.

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.

More in this category: « EUR/USD Daily Forecast – 15 April GBP/USD Daily Forecast – 18 April »

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