AUD/USD Daily Forecast – 19 January

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Monday, Jan 18 2016

Aussie managed to rebound in the course of the yesterday's session, but found area around 0.6930 level to be too resistive at the moment, and pair fell below 0.69 handle once again by the end of the session. Main market mover tomorrow will be China's GDP and Industrial Production figures.

Weaker than expected data would push pair all the way to 0.68 handle, while better than forecasted data would bring rebound to the pair with resistances at 0.6930 and 0.6980 level. Long-term looking, with this recent breakdown, we believe that pair will head towards 0.65 handle given enough time, so any rallies or break below recent low's at 0.68 handle would offer selling opportunity. We have no interest in buying this pair at the moment.

More in this category: « EUR/USD Daily Forecast – 18 January GBP/USD Daily Forecast – 19 January »

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