Long-term looking, selling is not an option at the moment, after this rebound, and after we saw break above 0.80 handle. However we expect plenty of resistance on a way towards 0.85 area.
AUD/USD Weekly Forecast – 29 January – 02 February
Despite no major data releases from Australia last week, Aussie was pushed higher breking above 0.81 handle and finishing the week around this area, mostly due to overall weakness of US dollar in initial part of the week. Next week will bring more volatilit with Australian CPI figures, NFP report and FOMC interest rate decision. Pair is likely to find support around 0.80 and 0.7950 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.82-0.8250 handle.
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