Long-term looking, buying is not an option at the moment, as there is some bearish momentum in the pair. We would consider using rallies as selling opportunities. Decisive break above 0.78 handle would, however, be a buying signal.
AUD/USD Daily Forecast – 17 November
Aussie went back and forth in the course of the yesterday's session, being traded in a tighter range despite rather good Australian job figures. Pair found plenty of resistance above 0.76 handle and in the end finished the session around 0.7580 area. Tomorrow, we expect another less volatile session. Pair is likely to find support around 0.7550 and 0.7520 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7630-0.7660 handle.
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