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AUD/USD Daily Forecast - 06 January

Monday, Jan 05 2015

After it initially fell all the way to 0.80 handle, Aussie managed to rebound fully and finish the day just few points below 0.81 handle. 0.80 handle proved to be a major support and we believe that this will be the case in the next few sessions so this is where we would be more than glad to buy the market, on a short-term basis.

Any type of resistive candles around 0.8140 area, tomorrow, would offer short-term selling opportunity, while supportive candles around 0.8030 level would be short-term buying signal. In long-term trends, now we have reached our long-term target at 0.80 handle, we would step aside from the market until it consolidates first. We have no interest in buying it, but would not consider selling it either until we see decisive break below 0.80 handle.

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