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AUD/USD Daily Forecast – 15 February

Friday, Feb 12 2016

Aussie went back and forth in the course of Friday's session, being traded in a tighter range with support around 0.7060 level and resistance above 0.7130 area. As for Monday, 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.

More in this category: « EUR/USD Daily Forecast – 12 February GBP/USD Daily Forecast – 15 February »

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