AUD/USD Daily Forecast - 19 December

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Thursday, Dec 18 2014

Aussie spent most of the session on Thursday in an uptrend though there were no major data releases from Australia. However, 0.82 handle proved to be resistive at the moment so Aussie finished the session around 0.8150 area. Tomorrow, we do not expect any big movements as there will be no data releases both from Australia and USA.

Any type of resistive candles above 0.8250 area would indicate short-term selling opportunity, while supportive candles near 0.8120 level, from which Aussie bounced out on Wednesday, would be short-term buying signal. On a long-term basis we have no interest in buying this market and would remain strong sellers for this market. It is a bit oversold at the moment, but we believe that given enough time it will head towards 0.80 handle.

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