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Aussie sharply fell in the course of the session on Thursday, hitting new five and half year lows, going all the way and finishing the session below 0.78 handle. As for tomorrow we can expect a lot of volatility with Australian PPI and USA GDP figures. Pair is likely to find support around 0.77 handle initially and 0.7650 area in extension

, while previous support area around 0.7850 level should now offer plenty of resistance. With all this being the case we have no interest in buying this pair, especially since even uptrend in gold prices was not particularly helpful. We believe that pair will go all the way to 0.75 handle, where we can expect some amount of support, since this is round, psychologically important number and a major support on a long-term charts.

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