Long-term looking, selling is not an option at the moment, as we are still above 0.78 handle. However, we believe it is best to stay on the sidelines at the moment.
AUD/USD Daily Forecast – 10 January
Despite better than forecasted Australian Building Approvals figures Aussie was pushed lower in the course of the yesterday's session going all the way to 0.78 handle where it found some amount of support but only managed to slightly rebound by the end of the session to a daily closing to 0.7820 level. As for tomorrow, we would pay attention to China's CPI and PPI figures. Pair is likely to find support around 0.78 and 0.7770 handle, so these would be our short-term buying points, while we can expect some amount of resistance near 0.7870 handle.
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