AUD/USD Daily Forecast - 22 January

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Wednesday, Jan 21 2015

After it initially aimed higher, Aussie sharply pulled back during the US part of the session, forming a shooting star as a daily candle, which is of course a very negative sign. Tomorrow's session will not bring any major data releases, so we believe that pair will found some amount of support around 0.8030 level so this would our short-term buying point

, while we can expect some resistance near 0.8150 level initially so this would be our short-term selling point. In long-term trends, we do recognize bearish potential in this pair, but since 0.80 handle is a major support we are still not comfortable with selling this market. Buying is not an option as long as area above 0.8250 is being resistive.

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