AUD/USD Daily Forecast – 11 March

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Thursday, Mar 10 2016

Aussie once again tested 0.75 handle in the course of the session on Thursday, supported by better than forecasted China's CPI figures, but once again failed to break decisively above it, and pulled back by the end of the session to 0.7450 handle. As for Friday we expect that 0.74 level would now offer some amount of support, as this was previously quite resistive area, 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, we would first like to see decisive break above 0.75 handle and daily closing above this area before placing any larger buying bids. However, we have no interest in selling the pair at the moment.

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