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 – 08 December
Aussie continued its decline in the course of the yesterday's session, offset by weaker than expected Australian Trade Balance with pair going all the way to 0.75 handle, which is a major support and around which it finished the session. As for tomorrow, we would pay attention to NFP report. Pair is likely to find support around 0.7480 and 0.7450 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7550-0.76 handle.
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