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 – 01 December
Aussie spent yesterday's session going back and forth, once again in a tighter range, with support around 0.7550 area and resistance near 0.76 handle, with pair in the end doing nothing, finishing the session in a neutral tone above 0.7560 level. As for tomorrow, we expect similar session, as there will be no major data releases from Australia. Pair is likely to find support around 0.7530 and 0.75 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.76-0.7650 handle.
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