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, though we would first like to see decisive break above 0.78 handle. Selling is not an option at the moment as we see 0.75 handle as being floor for this market.
AUD/USD Daily Forecast – 25 April
After it was initially pushed higher, Aussie found area around 0.7770 level to be too resistive in the course of Friday's session with pair pulling back all the way to 0.77 handle. 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 0.7750 and 0.7780 level would offer short-term selling opportunity.
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