AUD/USD Daily Forecast – 23 December

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Tuesday, Dec 22 2015

Aussie was in an uptrend in the course of the yesterday's session, testing 0.7250 level as a resistance, but did not manage to break above this area, and pulled back slightly by the end of the session. Tomorrow's session will bring US Durable Goods Orders figures and with no data releases from Australia this would be main market mover.

Weaker than expected figures could push Aussie towards resistance at 0.7280n handle, while better than forecasted data would bring Aussie back to below 0.72 handle, with initial support at 0.7180 level. Long-term looking, we would not get involved in this market, as it simply being traded within its consolidation range between 0.71 and 0.73 handle, with no clear trend at the moment. However, we do recognize that break below yesterday's support at 0.7180 level would offer selling opportunity.

More in this category: « EUR/USD Daily Forecast – 22 December GBP/USD Daily Forecast – 23 December »

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