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AUD/USD Daily Forecast – 09 March

Tuesday, Mar 08 2016

Aussie was initially pushed lower in the course of the yesterday's session, but then managed to rebound, finding area around 0.74 handle once again to be supportive, going all the way to above 0.7450 handle by the end of the session. As for Wednesday we expect that 0.74 level would now offer some amount of support, and then 0.7380 area in extension, as this was the case in the previous two sessions, while break above 0.75 area would lead pair all the way towards 0.7550 handle, where we can expect significant amount resistance.

Long-term looking, now when we have seen decisive break and second consecutive 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.

More in this category: « EUR/USD Daily Forecast – 08 March GBP/USD Daily Forecast – 09 March »

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