AUD/USD Daily Forecast – 13 January
Aussie went back and forth during the yesterday's session essentially doing nothing. Pair initially tested 0.6940 area, but once again found it to be supportive enough at the moment in order to bounce and test area above 0.70 handle as a resistance. As for tomorrow we believe that China's Trade Balance figures could have some impact on the markets.
We expect some amount of support around 0.6930 level and resistance above 0.7030 and 0.7080 area in extension so these would be our short-term buying and selling points. In long-term tends, 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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