AUD/USD Daily Forecast – 07 December
Aussie managed to broke higher during the Friday's session, despite better than forecasted NFP figures. Pair found support around 0.7280 handle after initial incline and was pushed all the way to above 0.7380 level which at the moment offer some amount of resistance. Pair has some bullish pressure at the moment so we expect that it could test 0.74 handle.
This is where we expect significant amount of resistance on Monday and would place short-term selling bids. On the other hand 0.73 handle should offer some amount of support so this would be our short-term buying point. On a long-term basis, though pair has bullish potential, we would not place any serious buying bids until we see break above next major resistance based on a long-term charts and this is of course 0.75 handle. We have no interest in buying this pair at the moment.
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