Long-term looking, buying is not an option at the moment, despite this rebound. Trend is mixed at the moment, so we believe it is best to stay on the sidelines at the moment.
AUD/USD Daily Forecast - 19 February
Aussie was initially pushed higher in the course of the Friday's session but found resistance above 0.7980 area and was then pushed lower, going all the way to 0.79 handle by the end of the session, with USD being supported by better than forecasted US figures. As for Monday, we expect bit steadier session as there will be no major data releases. Pair is likely to find support around 0.7880 and 0.7850 handle, so these would be our short-term buying points, while we can expect some amount of resistance above 0.80 handle.
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