The Australian dollar spent the week knocking against major support at 0.7600 and if the line held its long-term strength is very much in doubt, Joseph Trevisani, an Analyst at FXStreet, reports. Key quotes “The combination of strong USD fundamentals and weak technical support for the AUD will likely send the aussie lower this week.” “Having spent the entire year above 0.7600 the likelihood of AUD/USD selling orders just beneath support is quite high. If 0.7600 is breached the first notable support is 0.7530.” “Australian data in the week ahead is from February and of little import. The US Nonfarm Payrolls report on Friday is expected to add 500,000 new jobs and if accurate will further enhance the economic outlook, Treasury rates and the dollar.” “The array of recent vintage resistance lines starting at 0.7660 will prove good levels to establish new short positions should the AUD/USD move higher.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next SEC claims XRP holders’ intention to intervene is motivated by doubling Ripple price FX Street 8 months The Australian dollar spent the week knocking against major support at 0.7600 and if the line held its long-term strength is very much in doubt, Joseph Trevisani, an Analyst at FXStreet, reports. Key quotes "The combination of strong USD fundamentals and weak technical support for the AUD will likely send the aussie lower this week." "Having spent the entire year above 0.7600 the likelihood of AUD/USD selling orders just beneath support is quite high. If 0.7600 is breached the first notable support is 0.7530." "Australian data in the week ahead is from February and of little import. The US Nonfarm… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
