AUD/USD Daily Forecast – 12 January
Aussie initially tested 0.7030 level as a resistance during the yesterday's session, though there were no major data releases, but there pair found significant amount of resistance and pulled back by the end of the session once again below 0.70 handle. As for tomorrow, any type of supportive candles around 0.6930 and 0.69 handle in extension would offer short-term buying opportunity, while resistive candles above 0.7030 and in a case of a larger uptrend 0.7080 level would be short-term selling signal.
In long-term tends, despite today's attempt of a rebound, we would still 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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