AUD/USD Daily Forecast – 04 February
After it was initially pushed lower in the course of the yesterday's session, Aussie found support around 0.70 handle and shot through 0.71 handle in the US part of the session coming near to 0.72 handle. As for tomorrow, we believe that any type of supportive candles around 0.7130 level initially and 0.7080 level in extension would offer short-term buying opportunity, while resistive candles above 0.7250 handle would be short-term selling signal.
On a long-term basis, if we see decisive break above 0.72 handle we would consider buying this market, though we cannot expect an easy way up, with major resistance near 0.74 handle. However, we have no interest in selling the pair at the moment.
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