AUD/USD Daily Forecast – 10 March

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Wednesday, Mar 09 2016

Aussie continued its uptrend in the course of the session on Wednesday, breaking above major resistance at 0.75 handle, which is of course quite bullish sign that also marks a shift in a trend. As for Thursday we expect that 0.7450 level would now offer some amount of support, as this was previously quite resistive area, while break above 0.7550 area would lead pair all the way towards 0.76 handle, where we can expect significant amount resistance.

Long-term looking, now when we have seen decisive break and daily closing above 0.76 handle we would be interested in buying this pair, but we do still expect a lot of struggle all the way to 0.76 handle.

Last modified on Wednesday, 09 March 2016

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