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AUD/USD Daily Forecast – 22 December

Monday, Dec 21 2015

Aussie was traded in a tighter range within 40 points during the yesterday's session, with support around 0.7155 level, but with area near 0.72 handle still being quite resistive. There was also a lack of volatility with no major data releases, and we can expect similar session tomorrow.

Any type of supportive candles around 0.7150 and 0.7130 level in extension would be short-term buying opportunity, while resistive candles around 0.7230 level would be short-term selling-signal, though pair is likely to struggle with breaking above 0.72 handle. In long-term trends, though pair has rebounded we would remain on the sidelines at the moment, as there is no clear direction at the moment, and we cannot place any larger bids until we see either break above 0.71 and 0.73 handle.

More in this category: « EUR/USD Daily Forecast – 21 December GBP/USD Daily Forecast – 22 December »

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