AUD/USD Daily Forecast – 26 November
Aussie was traded in a tighter range during the yesterday's session finding area above 0.7275 level to be too resistive at the moment, but with a support around 0.7230 level. Main market mover tomorrow will be Private Capital Expenditure figures.
However, regardless of them, we believe that supportive candles around 0.7220 level would initially offer short-term buying opportunity. If we see break below this area next major support is at 0.7190 level. On the other hand, 0.7275 level should continue to be resistive. On a long-term basis, we would remain on the sidelines for this market, as we believe that there is plenty of resistance on the way up, so we would use rallies as selling opportunities at the moment, though we would avoid placing larger selling bids since pair has plenty of support all the way to 0.70 handle.
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