AUD/USD Daily Forecast – 12 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 once again in order to rebound and come back to above 0.71 handle in the US part of the session, with resistance around 0.7130 level. As for tomorrow, we believe that any type of supportive candles around 0.7040 level initially and 0.70 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, but for now we prefer staying on the sidelines.
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