AUD/USD Daily Forecast – 03 December

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Wednesday, Dec 02 2015

Despite better than forecasted Australian GDP data, Aussie did not manage to break above 0.7340 area in the course of the yesterday's session and spent most of the session being traded in a tighter range within 40 points.

At the moment, any type of supportive candles around 0.7280 level offer short-term buying opportunity, while resistive candles above 0.7340 and 0.7365 level in extension would be short-term selling signal. On a long-term basis, despite this rebound, it seems that pair is struggling to hold gains above 0.73 handle, so we are still not interested in buying this pair. Actually, we would wait rallies that show signs of resistance in order to start selling the pair. Also, break below 0.7250 area would also indicate selling opportunity.

More in this category: « EUR/USD Daily Forecast – 02 December GBP/USD Daily Forecast – 03 December »

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