AUD/USD Daily Forecast - 15 January

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Wednesday, Jan 14 2015

Aussie even broke below 0.81 handle in the course of the session on Wednesday, due to decline in copper prices, but just as we have suspected area below is being far too supportive so pair managed to rebound and finish the session around 0.8150 level. Main market mover tomorrow will be Australian job figures.

Weaker than expected figures would push pair all the way to 0.8050 level, where we expect some amount of support. On the other hand better than forecasted data would push the pair higher, but with a resistance around 0.82-0.8250 area. This pair is showing signs of downtrend, however, 0.80 handle is round, psychologically important figure so break below it is not likely at the moment. With that being the case we would search for pullback to that level in order to use them as short-term buying opportunity.

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