On a long-term basis we have no interest in selling this pair, despite this pullback, as we believe that there is plenty of support for it all the way to 0.74 handle. With that being the case, we would use pullbacks and break above daily highs as buying opportunities.
AUD/USD Weekly Forecast – 14 November – 18 November
After it initially reached all the way to 0.7780 area, Aussie sharply pulled back after the US Presidential Elections results going all the way below 0.7550 area by the end of the week though remaining above 0.75 handle that should offer some amount of support at the moment. Next week, we would pay attention to Australian job figures. We can expect some amount of support around 0.74 and 0.7550 handle and resistance above 0.76 and 0.7650 handle.
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