AUD/USD Daily Forecast – 05 February
Aussie spent most of the yesterday's session in an uptrend, breaking above 0.72 handle, but finding resistance around 0.7250 area, pulling back to 0.72 area by the end of the session. As for tomorrow, focus will be on NFP figures. 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 0.73 handle would be short-term selling signal.
On a long-term basis, if we see decisive break above 0.7250 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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