AUD/USD Daily Forecast - 18 December

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Wednesday, Dec 17 2014

Though there were no major data releases from Australia, yesterday, Aussie initially fell going all the way to 0.8140 and then slightly rebounded after FOMC statement and following Press Conference, but only to go back once again to finish the day few points above 0.8110 level. There will be no major data releases tomorrow, but at the moment we do not see Aussie anywhere above 0.82 handle, around where we would sell the pair at the sight of resistive candles.

On the other hand, supportive candles around 0.8080 level and 0.8050 in extension should offer short-term buying opportunity. Aussie is general weak, gold prices are not being helpful at the moment, and with that being the case we would be sellers for this market with a target set at 0.80 handle. Buying is not an option.

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