Long-term looking, buying is not an option at the moment, despite this rebound. 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 – 25 December – 29 December
Aussie spent yesterday's session in an uptrend, after it initially formed support around 0.7650 area, with pair breaking above 0.77 handle, mostly being supported by incline in commodities prices, and with a weekly closing slightly above this area. Next week we expect less volatility as begining of the week marks a heart of holiday season. Pair is likely to find support around 0.7650 and 0.76 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7750-0.7780 handle.
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