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 – 09 November
Aussie formed support around 0.7640 level in the course of the yesterday's session and was then pushed higher going all the way to 0.7680 area around which it finished the session. Pair was somewhat supported by China's Trade Balance figures. Tomorrow, we would be focused on China's CPI and PPI data. Pair is likely to find support around 0.7640 and 0.7620 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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