AUD/USD Weekly Forecast - 30 March - 03 April
Since there were no major data releases from Australia for the whole week, Aussie mostly depended on US data. It tried to break higher but struggled with 0.79 handle in order to pull back and finish the week below 0.78 handle. This indicates that pair could resume it downtrend. However, pair is likely to find some amount of support around 0.77 handle initially in the week.
Pair below it would indicate serious break down. On the other hand we expect some amount of resistance above 0.7850 area so this is where we are likely to sell the pair in short-term trends. On a long-term basis, we believe that this pair will go all the way to 0.75 handle given enough time, however we would first like to see break below 0.77 handle in order to get involved in this market which is rather messy at the moment. We have no interest in buying this pair.
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