Long-term looking, selling is not an option at the moment, despite the pullback. However we would remain on the sidelines for now. Decisive break above 0.80 handle would be a strong buying signal.
AUD/USD Weekly Forecast – 02 October – 06 October
Aussie fell in the course of the last week, going all the way to 0.78 handle, which proved to be somewhat supportive but only for a pair to rebound slightly finishing the week around 0.7830 level. Current momentum in the pair is bearish but next week we would be focused on RBA interest rate decision and Australian figures, as well as US NFP report. Pair is likely to find support around 0.7780 and 0.7750 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.79-0.7950 handle.
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