AUD/USD Daily Forecast - 12 January
Aussie spent most of the Friday's session in an uptrend with a daily closing just few points below 0.82 handle. This indicates that pair is perhaps ready to break higher, but we still do not have right sign for start buying the pair in long-term trends. On Monday we would pay attention to Australian figures as there will be no major data releases from USA.
Weaker than expected figures would probably cause a small downtrend but with a support around 0.8130 level, while better than forecasted data would push pair higher to above 0.8240area where we expect some amount of resistance and short-term selling opportunity. In long-term trends we are not interested in selling this pair, as 0.80 handle proved to be major support for this pair and it does not seem very likely for Aussie to break below it within next few sessions. If we get some type of supportive candle above 0.8250 level we would actually consider buying the pair.
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