AUD/USD Daily Forecast – 02 December

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Tuesday, Dec 01 2015

Aussie was pushed higher in the course of the yesterday's session, breaking even above 0.73 handle, supported by better than forecasted Australian Building Approvals figures as well as RBA Statement that indicating stability in current monetary policy. Focus of tomorrow's session will be on Australian GDP figures.

Weaker than expected figures are likely to push pair back to 0.7250 area, while better than forecasted data would probably bring incline towards 0.7380 level. In long-term trends, though pair is currently in an uptrend,there is plenty of resistance all the way to 0.75 handle, so we are not keen on placing larger buying bids at the moment. However, selling is not an option at the moment.

More in this category: « EUR/USD Daily Forecast – 01 December GBP/USD Daily Forecast – 02 December »

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