On a long-term basis, despite recent pullback, selling is not an option and we believe that it is only matter of time when pair will break higher and reach 0.78 handle.
AUD/USD Weekly Forecast – 22 August – 26 August
Aussie went back and forth in the course of the last week, with resistance above 0.77 handle and support around 0.76 handle. However, by the end of the week, pair was pushed a bit lower, though it finished it above 0.76 handle, which is a major support at the moment. Next week, with no major data releases, pair is likely to find support around 0.76 and 0.7550 handle in extension, while resistive candles above 0.77 and 0.7750 handle would be short-term selling signal.
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