AUD/USD Daily Forecast - 16 January
Supported by better than forecasted job figures and recovery in copper prices, Aussie spent most of the yesterday's session in an uptrend with a daily closing above 0.82 handle. Pair went all the way to near 0.83 handle, but this area proved to be too resistive at the moment, so pair pulled back. This is why we would be short-term sellers tomorrow at the sight of resistive candles below 0.83 area.
On the other hand 0.8150 level proved to be key support in the past few sessions so this is where we would consider buying the pair, short-term looking. Long-term looking, if see break above 0.83 handle, we believe that pair could go all the way to 0.85 handle, where we expect plenty of resistance, being round psychologically important number. We are far from selling the pair at the moment, since and downtrend should be stopped ahead 0.80 handle.
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