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 perhaps consider using pullbacks as buying opportunities.
Last modified on Sunday, 09 April 2017AUD/USD Weekly Forecast – 10 April – 14 April
Aussie spent most of the last week in a decline, finishing the week around 0.75 handle. Aussie was mostly influenced by geopolitical news that tend to have high impact on commodity prices and with that on Aussie as well. Next week, we would pay attention to Australian job figures and of course US data as well as commodity prices. Pair is likely to find support around 0.74 and 0.7440 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7630 handle.
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