AUD/USD Daily Forecast - 24 December

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Tuesday, Dec 23 2014

Aussie finished yesterday's session around 0.81 handle. Though there were no data releases from Australia pair came under pressure after strong US readings. Aussie is now near our long-term target at 0.80 handle that should offer some amount of support being round, psychologically important figure. However, once we see break below it we would continue selling the pair with new target at 0.75 handle.

Tomorrow's session should be less volatile as only Unemployment Claims figures are being released from USA, and with holiday season kicking in. With that being the case, we would consider short-term buying around 0.8080 level initially and 0.8050 area in extension, while we believe that any short-term rallies will be limited by 0.8140 level. We would use these kind of rallies as just another selling opportunity.

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