AUD/USD Daily Forecast - 21 January
Aussie spent most of the yesterday's session in a decline though it was a steadier session within 60 points, which indicates that market is currently quite indecisive. With no major data releases we expect a steadier session tomorrow. Any type of supportive candles around 0.8130 level initially and 0.81 handle in extension would be short-term buying opportunity
, while resistive candles above 0.8250 area would be short-term selling signal. Long-term looking, it seems that pair is going through consolidation between 0.80 and 0.8250 level, so we are not willing to place any large bids at the moment. We do recognize the fact that 0.80 handle is significant support on long-term charts, and psychologically important figure, so we do believe that we can expect a bounce and buying opportunity around this area every time pair heads lower. Break below it would be extremely bearish.
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