AUD/USD Daily Forecast - 23 January

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Thursday, Jan 22 2015

After it initially aimed higher during the yesterday's session, Aussie pulled back and finished the day around 0.8060 level. There will be no data releases from Australia tomorrow, but we do expect some market movement with China's Manufacturing PMI figures. Any type of resistive candles above 0.8130 level would indicate short-term selling opportunity

, while supportive candles at 0.80 handle would be short-term buying signal. In long-term trends we believe that this pair will continue to consolidate for some time now. 0.80 handle is a major support and we are not willing to start selling this pair before we see decisive break below it. At the moment, we do not see enough bullish pressure in this pair to place any long-term buying bids.

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