AUD/USD Daily Forecast - 31 December

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Tuesday, Dec 30 2014

Aussie spent most of the yesterday's session in an uptrend, supported by the fall in oil prices, finishing the session above 0.8180 area. As for tomorrow, we would pay attention to China's Manufacturing PMI figures. Weaker than expected data would push Aussie down, but with a support around 0.8130 level, while better than forecasted figures would bring uptrend to above 0.82 handle

, at which point we believe that around 0.8230 level, resistance would become to strong and sellers would step into markets. In long-term trends we would use rallies as just another selling opportunities, since we are far from changing the trend in this pair, that should head towards 0.80 handle, given enough time.

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