Long-term looking, buying is not an option at the moment, despite this small 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 – 04 December
Aussie managed to rebound in the course of Friday's session, though there were no data releases from Australia, with pair going all the way to 0.7640 area where it found some amount of support and then pulled back slightly in order to finish the session a bit above 0.76 handle. On Monday, we expect a bit steadier session with traders being cautious ahead of Tuesday's releases. Pair is likely to find support around 0.7580 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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