AUD/USD Weekly Forecast - 06 April - 10 April
Aussie was pushed lower during the last week, though it was traded in a bit tighter range between 0.7550 and 0.7650 as market seems a bit indecisive whether it should break further lower. We can expect quite volatile next week, especially its initial part with the focus on RBA interest rate decision. If RBA cuts its interest rates we can expect further downtrend with initially goal at 0.75
handle, where we expect some amount of support and would be buyers, short-term looking. On the other hand, prolonging rate cut to another meeting would push Aussie higher, but we expect resistance as soon as 0.7750 area. Long-term looking, we are not overly enthusiastic about this pair. 0.80 handle seems like a very top for it at the moment, though we expect significant amount of resistance even before pair reaches it.
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