AUD/USD Daily Forecast - 23 December

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Monday, Dec 22 2014

Aussie tried to break higher yesterday morning supported by an uptrend in gold prices, but met resistance around 0.8170 level in order to pullback and finish the session few points below 0.8140 area. We can expect another steadier morning part of the session tomorrow, as there will be no data releases from Australia and with main market mover being US figures.

Any type of supportive candles around 0.81 handle would offer short-term buying opportunity, at least initially tomorrow, while resistive candles near 0.8180 area would indicate short-term selling signal. In long-term trends, this is one of the pair in which we recommend sell only policy and would use any rallies as just another selling opportunity. Initial target is set at 0.80 handle.

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