Long-term looking, buying is not an option 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 – 06 December
Aussie was initially pushed higher in the course of the yesterday's session supported by rather good Retail Sales figures. Pair went all the way to 0.7650 handle where it found some amount of resistance and pulled back to 0.76 area by the end of the session. Focus of tomorrow's session will be on Australian GDP figures. 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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