Long-term looking, buying is not an option at the moment, after we have broke decisively below 0.78 handle. We would consider using rallies as selling opportunities. Decisive break above 0.78 handle, would, however, be a buying signal.
AUD/USD Daily Forecast – 30 October
Aussie formed support around 0.7620 area in the course of the yesterday's session and was then pushed higher going all the way above 0.7670 level by the end of the session, thus finishing session in a positive tone after initial decline. On Monday, we can expect less volatile session. Pair is likely to find support around 0.7630 and 0.76 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.77-0.7730 handle.
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