Tomorrow, we would be focused on Chinese CPI and PPI data. In a case of a weaker than expected figures pair is likely to find support around 0.8250 level, so this would be our short-term buying point. On the other hand, better than forecasted data would push pair higher but with a resistance around 0.8370 level, so this is where we would consider selling the pair. Long-term looking, we are sellers for this pair. We do recognize the fact that holiday season could be bringing a bit of bounce out to the pair, but it should hit 0.80 handle, given enough time.
AUD/USD Daily Forecast - 10 December
Aussie went back and forth in the course of the session on Tuesday. It was initially pulled back by decline in NAB Business Confidence figures, but managed to rebound, finding area around 0.8220 level to be supportive, in order to break above 0.83 handle once again and finish the session there.
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