AUD/USD Daily Forecast – 22 April

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Thursday, Apr 21 2016

After it once again tested 0.78 handle in the course of the yesterday's session, but found resistance around 0.7830 level and pulled back all the way to 0.7730 area. On Friday, any type of supportive candles around 0.77 and 0.7680 handle in extension would be short-term buying signal, while resistive candles around 0.7780 and 0.7830 level would offer short-term selling opportunity.

On a long-term basis, despite this decline, we believe that 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 0.75 handle as being floor for this market.

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