Long-term looking, at the moment it is best to stay on the sidelines, however aggressive selling is not an option, as long as we are above 0.74 area. We would consider using pullbacks as buying opportunities.
AUD/USD Weekly Forecast – 01 May – 05 May
Aussie did not mange to break above 0.76 handle in the course of the last week and then sharply pulled back going all the way to 0.7440 area where it found some amount of support and managed to rebound slightly by the end of the week but did not break above 0.75 handle again. Next week focus will be on RBA interest rate decision as well as FOMC and US figures. Pair is likely to find support around 0.74 and 0.7350 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.76 handle.
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