AUD/USD Daily Forecast – 18 December
Aussie spent most of the Thursday's session in a decline, as a reaction to Wednesday's rate decision and the following statement. Though, following statement was a dovish, but markets have to price in rate hike which was the first one in almost a decade. Tomorrow's session should be a steadier one as there will be no major data releases, but also we are quite near to holiday season which is marked by lack of volatility.
We expect some amount of support around 0.7070 handle and resistance above 0.7180 level, which was previously supportive, so these would be our short-term buying and selling points. On a long-term basis, buying is not an option at the moment, while we would consider selling the pair if we see break below Thursday's low's, though 0.70 handle is next major support based on a long-term charts so we cannot expect any huge decline.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419