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 - 12 March
Aussie formed support around 0.7780 area in the course of the Friday's session and was then pushed higher going all the way to 0.7850 handle around which it finished the session, mostly due to mixed NFP figures. As for Monday we can expect a bit steadier session as there will be no major data releases. Pair is likely to find support around 0.78 and 0.7780 handle, so these would be our short-term buying points, while we can expect some amount of resistance above 0.79 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…