AUD/USD Daily Forecast – 31 December
Aussie once again tested 0.73 handle as a resistance in the course of the yesterday's session, but pulled back to 0.7280 level by the end of the session, though lack of liquidity is quite obvious at the moment, and we cannot expect any larger movements tomorrow as well as it is New Year's Eve.
Pair is likely to find support around 0.7250 level, so this is where we would consider short-term buying, and resistance around 0.7305 level so this is where we would place short-term selling bids. On a long-term basis, we would remain on the sidelines for this pair at the moment, as we would first need to see break above 0.74 handle before consider buying the market. On the other hand, selling is not an option as long as we are above 0.71 handle, though we do recognize that for continuation of an uptrend it is crucial to stay above 0.72 area.
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