Long-term looking, buying is not an option at the moment, despite this rebound. We would consider using rallies as selling opportunities. Decisive break above 0.78 handle would, however, be a buying signal.
AUD/USD Daily Forecast – 02 November
Aussie rebounded in the course of the yesterday's session going all the way to 0.77 handle where it found some amount of resistance and pulled back by the end of the session to around 0.7680 area. Tomorrow, we would pay attention to Australian Trade Balance and Building Approvals 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 0.77-0.7750 handle.
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