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 – 07 November
Aussie found area around 0.7630 level to be supportive enough in the course of the yesterday's session and was then pushed higher going all the way to 0.7680 area by the end of the session. Tomorrow, focus will be on RBA rate decision and the following statement which should add some volatility to the markets. 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 0.7730-0.7750 handle.
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