AUD/USD Daily Forecast – 10 December

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Wednesday, Dec 09 2015

After pair initially tried to break above 0.7250 handle, pair broke lower after unsuccessful attempt as well as due to resistance that this area offers. Pair pulled back but once again found area around 0.7180 level to be supportive. As for tomorrow, main market mover will be Australian job data.

Any type of supportive candles around 0.7150 level would offer short-term buying opportunity, while resistive candles above 0.7250 and 0.7280 area in extension would be short-term selling signal. In long-term trends we have no interest in buying this pair. If we see break below 0.7150 handle we would be willing to start selling this pair as this would indicate downtrend towards 0.70 handle.

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