AUD/USD Daily Forecast – 17 March

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Wednesday, Mar 16 2016

After Aussie was initially pushed lower in the course of the yesterday's session, pair managed to break higher, well above 0.75 handle, supported by dovish Fed stanzas regarding future monetary policy. Tomorrow, we can expect more volatility with Australian job figures. Initially 0.75 level should offer some amount of support, and then 0.7450 level in extension, while we can expect significant amount resistance above 0.76 and 0.7630 handle in extension.

Long-term looking, we would be strong buyers for this pair, especially now when we have again seen decisive break above 0.75 handle. If we see break above recent highs we believe pair could go all the way to 0.78 handle. We have no interest in selling the pair at the moment, as long as we are above 0.74 handle.

More in this category: « EUR/USD Daily Forecast – 16 March GBP/USD Daily Forecast – 17 March »

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