AUD/USD Forecast November 4, 2016, Technical Analysis

The Australian dollar initially tried to fall during the course of the day on Thursday, but then turned around to bounce and a positive fashion. There is a significant amount of resistance above and extending all the way to the 0.7750 level though, and with the jobs number coming out today is probably best to wait to see how the daily candle closes. Also, you have to pay attention to how gold acts, so having said that it’s likely that I will be on the sidelines when it comes to the Aussie dollar until at least Monday.

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