Long-term looking, buying is not an option at the moment, as it seems there is some negative momentum in the pair at the moment. We would consider using rallies as selling opportunities. Decisive break above 0.78 handle would, however, be a buying signal.
AUD/USD Daily Forecast – 28 November
Aussie went back and forth in the course of the yesterday's session, initially finding support around 0.76 handle and being pushed higher going all the way to 0.7640 area where it found some amount of resistance and again pulled back by the end of the session to 0.76 area. Tomorrow, we would be more focused on US reports. Pair is likely to find support around 0.7570 and 0.7550 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7650-0.7680 handle.
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