Long-term looking, buying is not an option at the moment. We would use any rallies as selling opportunities as well as break below 0.75 handle which would be a strong selling signal, as this is major supportive point.
AUD/USD Weekly Forecast – 13 November – 17 November
Aussie had an overall steadier week despite RBA releasing its interest rate decision. Pair found some amount of support around 0.7640 level while area near 0.77 handle proved to be too resistive at the moment with pair finishing week slightly above 0.7650 area. As for next week focus will be on Australian job figures as well as US data. Pair is likely to find support around 0.76 and 0.7550 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.77-0.7750 handle.
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