AUD/USD Daily Forecast – 14 December

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Friday, Dec 11 2015

Despite Thursday's incline supported by better than forecasted job figures, Aussie did not manage to hold onto gains and once again tested 0.7180 level as a support. This is of course a negative sign indicating bearish pressure in the pair which does not come as a surprise bearing in mind fall in commodity prices. Monday's session should be steadier one, with no major data releases both from Australia and USA.

We believe that pair will find some amount of support around 0.7150 level, so this is where we would place our short-term buying bids, while we can expect resistance around 0.7250 handle which was previously supportive. Long-term looking, we have no interest into getting involved in this market at the moment, but do recognize that break below 0.7150 level would be a selling signal. Buying is not an option for now.

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