We believe that pair could go all the way to 0.8180 and 0.8150 level in extension where we would place our short-term buying target in a case of break below 0.82 handle. On the other hand we cannot expect any significant break above 0.8270 level so this is where we would sell the pair. General outlook, remains weak so we have no interest in buying this market as it is likely to hit 0.80 handle given enough time.
AUD/USD Daily Forecast - 16 December
Aussie broke all the way to 0.82 handle in the course of the session yesterday, after morning Australian data, but found this area to offer some amount of support at the moment in order to bounce out and finish the session few points above 0.8210. Tomorrow, main market movers will be RBA Meeting Minutes but perhaps more importantly China Manufacturing PMI data.
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