AUD/USD Daily Forecast - 22 December

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Friday, Dec 19 2014

Aussie once again tried to break above 0.82 handle in the course of the session on Friday, but failed, forming a shooting star, with a daily closing around 0.8120 level, that indicates we could be seeing pair much lower. As for Monday, there will be no major data releases both from Australia and USA, so markets will probably depend on gold and iron ore prices, though there should be less liquidity with holiday season ahead of us.

We believe that 0.8080 level should be supportive at the moment so this is where we would consider buying the pair, while around 0.8180 area we can expect some amount of resistance, so this is where we would sell the pair on a short-term basis. On a long-term basis, it is only matter of time when Aussie will hit 0.80 handle and then possibly go even lower, though 0.80 handle should offer significant amount of support, being round, psychologically important figure.

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