AUD/USD Weekly Forecast - 23 March - 27 March
Aussie went back and forth during the last week, but once again showed that area above 0.78 handle is offering plenty of resistance at the moment. Pair tried to break decisively above it supported by dovish FOMC statement but was unable to do so and pulled back to 0.76 area, that is being supportive at the moment and from where pair bounce out above 0.77 handle by the end of the week.
As for next week, we would be more interested in US data, as there are no major data releases from Australia. Pair is likely to find support around 0.76 handle, so this is where we see short-term buying opportunity, while any type of resistive candles above 0.7850 area and 0.79 handle in extension would be short-term selling signal. Long-term looking, overall bearishness in the pair is more than obvious and therefore buying is not an option at the moment. 0.80 handle is the very top for this pair which is likely to hit 0.75 handle in the near future.
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