Long-term looking, at the moment it is best to stay on the sidelines, however selling is not an option, as long as we are above 0.74 area. We would even use pullbacks as buying opportunities as pair could try to test 0.78 handle in the near future.
AUD/USD Weekly Forecast – 03 April – 07 April
Since there were no major data releases from Australia, in the course of the last week, pair had overall steadier week, with support around 0.7580 area and resistance above 0.7680 level. Pair in the end finished the week slightly above 0.7620 area. However, we can expect more volatility next week, with RBA rate decision, Retail Sales and Trade Balance figures. Pair is likely to find support around 0.75 and 0.7450 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.77 handle.
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