AUD/USD Weekly Forecast - 11 April – 15 April
Aussie formed support around 0.75 handle during the last week, after being initially pushed lower, and from that point tried to break higher, but 0.7630 level continued to offer resistance through the whole week. As for next week focus will be on China's GDP figures as well as Australian job data. Weaker than expected data would push pair back to 0.7450 handle, where we can expect some amount of support, while better than forecasted figures would probably lead to break above recent highs at 0.77 handle.
On a long-term basis, we have no interest in selling this pair, as we believe that there is plenty of support for it all the way to 0.74 handle. With that being the case, we would use pullbacks and break above daily highs as buying opportunities, since Aussie looks quite strong at the moment, despite RBA wishes for lower exchange rates.
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