On a long-term basis, now when we have seen break above 0.7640 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 – 15 August – 19 August
Aussie found support around 0.76 level in the course of the last week and was pushed higher, well above 0.77 handle, indicating that there is certain amount of bullish pressure in the pair at the moment. However, by the end of the week pair pulled back finding area around 0.7750 handle to be too resistive at the moment, however managed to remain above 0.7640 area. Next week, we would be more focused on Australian job figures. Pair is likely to find support around 0.76 and 0.7550 handle in extension, while resistive candles above 0.7750 and 0.78 handle would be short-term selling signal.
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