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. Buying is not an option until we see break above 0.78 handle.
AUD/USD Weekly Forecast – 27 November – 01 December
Aussie formed support around 0.7540 level in the course of the last week, and was then pushed higher, but with no major data releases from Australia and with Thanksgiving holidays in the USA pair was traded in a tighter range with pair finishing the session slightly above 0.76 handle. Next week focus will be on US figures. Pair is likely to find support around 0.7550 and 0.75 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7680-0.77 handle.
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