AUD/USD Daily Forecast – 07 March

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Friday, Mar 04 2016

Aussie was pushed higher in the course of the yesterday's session, going all the way to 0.7450 handle, supported by surge in gold prices. This is of course quite bullish sign and pair could now head towards 0.75 handle. As for Monday we expect that 0.7380 level would now offer some amount of support, and then 0.7350 area in extension, while break above 0.7450 area would lead pair all the way towards 0.70 handle, where we can expect significant amount resistance.

Long-term looking, now when we have seen decisive break and daily closing above 0.74 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.

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