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AUD/USD Daily Forecast – 17 December

Wednesday, Dec 16 2015

Aussie was being traded in a tighter range in the course of the yesterday's session, though markets were expecting more volatility with Fed's rate hike decision. Area around 0.7180 level was supportive enough for pair to quickly recovered which was also due to dovish Fed statements. We believe that supportive candles around 0.7150 level would continue to offer short-term buying opportunity, while we can expect significant amount of resistance above 0.73 handle.

On a long-term basis, we have no interest in buying this pair, as higher levels proved to be too resistive for this pair at the moment. If we see break below recent lows at 0.7150 level we would consider shorting the market as this would bring pair further down towards 0.70 handle.

More in this category: « EUR/USD Daily Forecast – 16 December GBP/USD Daily Forecast – 17 December »

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