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 – 05 September – 09 September
Aussie pulled back initially last week, but found area around 0.75 handle to be supportive enough at the moment and managed to rebound in the second part of the week, testing 0.76 handle as a resistance, and after that slightly pulling back by the week's closing. Next week, we would pay attention to Australian GDP figures and we expect much more volatility as last week was an overall a steadier one, despite volatility during the NFP report. We expect support around 0.75 and 0.7480 handle in extension, while resistive candles above 0.7650 and 0.7680 handle would be short-term selling signal.
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