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AUD/USD Daily Forecast - 02 February

Friday, Jan 30 2015

Aussie went back and forth during the Friday's session, essentially doing nothing, with a daily closing around 0.7760 area. Monday's session should be a steadier one since only Final China's Manufacturing PMI data will be released, so we believe that pair should find some amount of support around 0.7730 level initially in the session

and in a case of a larger decline around 0.77 handle so these would be our short-term buying points, while 0.78 handle is where we anticipate short-term selling opportunity. Long-term looking we have no interest in buying this pair, as it is almost certain that it will head towards 0.75 handle, since this is first major supportive area on a long-term charts.

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