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AUD/USD Daily Forecast – 29 December

Monday, Dec 28 2015

Aussie was traded in a tighter range in the course of the yesterday's session, as there were no data releases and there is a lack of liquidity due to holiday season. We cannot expect any huge movements tomorrow as well.

As for tomorrow, we expect some amount of support around 0.7240 level and 0.7210 level in extension, so this is where we would place short-term buying bids, while area around 0.73 handle should continue to be resistive, so this is where we would place short-term selling bids. In long-term trends, we would remain on the sidelines at the moment, as there is no clear at the moment, with pair being stuck in consolidation between 0.71 and 0.73 handle.

More in this category: « EUR/USD Daily Forecast – 28 December GBP/USD Daily Forecast – 29 December »

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