On a long-term basis, if we see decisive break above 0.76 handle we would be buyers for this pair with initial target set at 0.78 handle. Selling is not an option as long as we are above 0.74 handle.
AUD/USD Weekly Forecast – 18 July – 22 July
Aussie spent most of the last week in an uptrend after finding area around 0.75 handle to be supportive enough with pair going all the way to 0.7670 level, however, this is where pair found significant amount of resistance with pair pulling back to below 0.76 handle at the week's end. Next week, there will be no major data releases so we can expect a bit steadier sessions, at least initially in the week. Pair is likely to find support around 0.75 and 0.7450 handle in extension, while resistive candles above 0.7650 and 0.77 handle would be short-term selling signal.
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