Long-term looking, we would use any pullbacks as buying opportunities as we believe that pair could at least test 0.78 area. Selling is not an option at the moment.
AUD/USD Weekly Forecast – 06 February – 10 February
Aussie spent last week in an uptrend going all the way to near 0.77 handle where it found some amount of resistance and pulled back slightly but finished the week around 0.7680 area, which is of course a positive sign. Pair was mostly supported by rather good Trade Balance figures. As for next week, we would be focused on RBA interest rate decision. Pair is likely to find support around 0.76 and 0.7550 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.78 handle in a case we break above 0.77 area.
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