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 – 29 August – 02 September
Aussie did not manage to break above 0.7670 area in the course of the last week, and spent most of it pulling back, but 0.76 handle proved to be massively supportive, with pair rebounding from it every time. Next week, we would pay attention to China's PMI and US job figures and we expect much more volatility as last week was an overall a steadier one. We expect support around 0.7550 and 0.75 handle in extension, while resistive candles above 0.7650 and 0.77 handle would be short-term selling signal.
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