Long-term looking, selling is not an option at the moment, after this rebound but we expect plenty of resistance around 0.80 handle.
AUD/USD Weekly Forecast - 12 March - 16 March
Aussie formed support around 0.7720 level in the course of the last week and was then pushed higher going all the way to 0.7850 handle around which pair finished the week. Incline was mostly supported by rather good Australian Building Approvals, Current Account and Retail Sales figures. Next week, we would be more focused on US CPI and Retail Sales figures. Pair is likely to find support around 0.78 and 0.7750 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.79-0.80 handle.
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