However, regardless of them, pair is likely to find support around 0.8240 area, in a case of a weaker than expected data and resistance above 0.8350 level, if data proves to be better than forecasted, so these would be our short-term buying and selling points. In long-term trends we remain sellers for this market, as we believe that it is going to head towards 0.80 handle, given enough time. Once there, we can expect a bit of bounce out, since this is round psychologically important figure.
Last modified on Wednesday, 10 December 2014AUD/USD Daily Forecast - 11 December
Aussie went back and forth during the session yesterday. It was initially pulled back by weaker than expected Chinese CPI figures, but found once again area around 0.8250 level to be supportive in order to rebound and finish the session few points below 0.83 handle. Main market mover tomorrow will be Australian job figures.
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