AUD/USD Daily Forecast – 11 January
Aussie was pushed below 0.70 handle in the course of the Friday's session. Pair initially tested 0.7080 level but pullback after much better than forecasted NFP figures, all the way to 0.6960 area, with this area offering some amount of support.
On Monday, supportive candles around 0.6930 area would offer short-term buying opportunity, while resistive candles above 0.7030 and 0.7070 level in extension would be short-term selling signal. Long-term looking, as we have seen break below 0.70 handle, and unsuccessful break above 0.7080 level before that, we would be sellers for this pair, with initial target set at 0.69 handle. We have no interest in buying this pair at the moment, as we would first need to see break above 0.7380 level for that, and this does not seem very likely in the near future.
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