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 – 03 November
Aussie continued its rebound in the course of the yesterday's session, being supported by rather good Retail Sales and Building Approvals figures, with pair going all the way to 0.7730 area, where pair found some amount of resistance and pulled back slightly but managed to finish the session above 0.77 handle. As for tomorrow, focus will be on Australian Retail Sales and US NFP figures. Pair is likely to find support around 0.7680 and 0.7650 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7750-0.7780 handle.
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