AUD/USD Daily Forecast - 14 January

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Tuesday, Jan 13 2015

Aussie went back and forth in the course of the session on Monday, essentially doing nothing finishing it few points above 0.8150 level. We cannot expect any larger movements during tomorrow's morning part of the session as well, as there will be no data releases from Australia. However, some volatility is likely to step along with US Retail Sales data.

Any type of supportive candles around 0.8080 level would be short-term buying signal, while resistive candles above 0.8210 area would offer short-term selling opportunity. On a long-term basis we are neutral for this pair as we do not have any clear sign of a trend yet. 0.80 handle is massively supportive and this should continue to be the case so we would not consider selling the pair at the moment, however, buying is not an option as well, at least not until we see break above 0.83 handle.

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