AUD/USD Daily Forecast – 10 February
Aussie was initially pushed lower in the course of the yesterday's session, but found area around 0.6980 handle to be supportive enough in order to rebound and come back to near 0.71 handle in the US part of the session. As for tomorrow, we believe that any type of supportive candles around 0.70 level initially and 0.6980 level in extension would offer short-term buying opportunity, while resistive candles above 0.7130 handle and 0.7170 area in extension would be short-term selling signal.
On a long-term basis, we have no interest in buying this pair at the moment, at least not until we see decisive break above 0.7250 area. If we see decisive break below 0.70 handle, we would be more than willing to start selling the pair again, with the target set at 0.68 handle.
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