AUD/USD Daily Forecast – 10 May

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Monday, May 09 2016

Aussie continued its downtrend in the course of the yesterday's session going all the way to 0.73 handle. As we have seen break below important support at 0.74 handle, this could be a sign of a change in trend, however, pair has significant amount of support all the way to 0.72 handle, so we believe it is best to stay on the sidelines on a long-term basis.

On a short-term basis, any type of supportive candles around 0.7250 handle would be short-term buying signal, while resistive candles around 0.7350 and 0.7380 level would offer short-term selling opportunity.

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