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 – 31 October
Aussie went back and forth in the course of the yesterday's session with a support around 0.7650 handle and resistance near 0.7690 area in the end finishing the session in a neutral tone around 0.7670 level. Tomorrow, we would pay attention to China's PMI figures. 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 0.77-0.7740 handle.
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