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 – 29 November
Aussie went back and forth in the course of the yesterday's session, with a support around 0.7590 area and resistance above 0.7620 level with pair finishing the session around 0.76 handle essentially doing nothing. As for tomorrow, we expect more volatility in the US part of the session. 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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