Long-term looking, buying is not an option at the moment, after this decline. We would consider using rallies as selling opportunities. Decisive break above 0.78 handle would, however, be a buying signal.
AUD/USD Daily Forecast – 08 November
Aussie tried to break higher initially in the course of the yesterday's session but found resistance above 0.77 handle and was pushed lower all the way to 0.7630 level by the end of the session also being offset by dovish RBA Statement. Tomorrow, we expect less volatile session as there will be no major data releases. Pair is likely to find support around 0.76 and 0.7580 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7680-0.77 handle.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419