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 at the moment.
AUD/USD Weekly Forecast – 01 August – 05 August
Aussie was pushed lower initially in the course of the last week, but found support slightly above 0.74 handle and managed to rebound by the end of the week going all the way to 0.76 handle, with a weekly closing near weekly highs. Next week, markets will be focused on RBA interest rate decision as well as NFP figures. Pair is likely to find support around 0.75 and 0.7450 handle in extension, while resistive candles above 0.7680 and 0.77 handle would be short-term selling signal.
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