Long-term looking, buying is not an option. Trend is bearish at the moment, so we believe it is best to stay on the sidelines.
AUD/USD Daily Forecast - 09 March
Aussie fell in the course of the yesterday's session despite better than forecasted Australian Trade Balalnce figures with pair going all the way to below 0.78 handle by the end of the session, however finding some amount of support around 0.7780 level. As for tomorrow, we would pay attention to China's CPI and PPI figures as well as US NFP report. Pair is likely to find support around 0.7750 and 0.7720 handle, so these would be our short-term buying points, while we can expect some amount of resistance above 0.7850 handle.
Canadian CPI rose by 2.2%
The Consumer Price Index (CPI) rose 2.2% on a year-over-year…
Service sector helps Eurozone growth kick higher in June
An improved service sector performance helped offset an increasing drag…
German growth ticks up but remains in low gear
The headline PMI numbers for Germany make for slightly better…
French service sector drives stronger growth of overall output in June
France’s economy showed noticeably divergent trends at the end of…