Long-term looking, selling is not an option after recent rebound, however we expect plenty of resistance on the way towards 0.80 handle.
AUD/USD Daily Forecast - 15 March
Aussie was pushed higher in the course of the yesterday's session, after it initially formed support around 0.7850 area, mostly due to much better than forecasted China's Industrial Production figures. Pair went all the way to 0.7920 area where it found some amount of resistance and pulled back to a daily closing around 0.7870 level. Tomorrow, we would be focused on US figures. Pair is likely to find support around 0.7850 and 0.7830 handle, so these would be our short-term buying points, while we can expect some amount of resistance above 0.7930 handle.
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