AUD/USD Forecast November 7, 2016, Technical Analysis

The AUD/USD pair fell on Friday, but turned around to form a relatively supportive looking candle. Ultimately, I see quite a bit of resistance all the way to the 0.7750 level above, so I think that we will probably continue to pull back again and again in order to build up enough momentum to finally break out. I look at pullbacks as the size of support at short-term buying opportunities, but I have to admit that the Australian dollar is one of my least favorite currencies to trade right now.

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