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AUD/USD Daily Forecast – 15 March

Monday, Mar 14 2016

Aussie was initially pushed higher in the course of the session on Monday, but area near 0.76 handle proved to be too resistive at the moment, with pair pulling back all the way to 0.75 handle, where it found some amount of support, since this was previously important resistive point. As for Tuesday we expect that 0.74 level would now offer some amount of support, as this was previously major resistive area and seems as a floor for the pair at the moment, while we can expect significant amount resistance above 0.7550 and 0.76 handle in extension.

Long-term looking, despite this pullback we would still be buyers for this pair, as we believe it has potential of breaking higher, thought it is a bit overbought at the moment. We have no interest in selling the pair at the moment.

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