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AUD/USD Daily Forecast – 18 January

Friday, Jan 15 2016

Aussie fell in the course of the session on Friday, breaking below 0.69 handle, which was supportive for quite some time and even going as low as 0.6820 area, from where pair managed to rebound slightly by the of the session.

On Monday, we expect a bit less volatile session, in which pair should find some amount of support around 0.68 handle, at least initially, so this is where we would place short-term buying bids, while 0.69 and 0.6930 level in extension, which where previously supportive is where we can now expect significant amount of resistance. Long-term looking, with this breakdown, we believe that pair will head towards 0.65 handle given enough time, so any rallies or break below day's low would offer selling opportunity. We have no interest in buying this pair at the moment.

More in this category: « EUR/USD Daily Forecast – 15 January GBP/USD Daily Forecast – 18 January »

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