AUD/USD Daily Forecast – 04 March

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Thursday, Mar 03 2016

Aussie was pushed higher in the course of the yesterday's session, going all the way to 0.7380 handle, supported by better than forecasted Australian Trade Balance figures. This is of course quite bullish sign. As for tomorrow focus will be US NFP figures. We expect that 0.73 level would now offer some amount of support, and then 0.7250 area in extension, while break above 0.74 area would lead pair all the way towards 0.7450 handle, where we can expect significant amount resistance.

Long-term looking, now when we have seen decisive break and daily closing above 0.73 handle we would be interested in buying this pair, but we do not expect an easy way up, with resistance going all the way to above 0.75 handle.

More in this category: « EUR/USD Daily Forecast – 03 March GBP/USD Daily Forecast – 04 March »

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