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AUD/USD Daily Forecast – 16 December

Tuesday, Dec 15 2015

Aussie was pushed higher initially yesterday after RBA Meeting Minutes but was then pushed lower back to 0.7160 level which already offered support in this week, due to concerns surrounding tomorrow's Fed rate decision. This will of course be the focus of tomorrow's session, especially since there will be no major data releases from Australia.

On a long-term basis, we would not place any larger bids at the moment, as we have to see Fed's decision before, which would probably be main market mover and set direction for the pair till the end of the year. Initially, we can expect that any type of supportive candles around 0.70 and 0.69 handle would offer short-term buying opportunity, while resistive candles above 0.7350 and near 0.74 handle would be short-term selling signal.

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