AUD/USD Daily Forecast - 27 January

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Monday, Jan 26 2015

Aussie went back and forth in the course of yesterday's a bit steadier session, in the end finishing the session above 0.79 handle. We can expect a bit more volatility tomorrow, with NAB Business Confidence and US Durable Goods Orders figures. Any type of resistive candles above 0.7980 level would be short-term selling signal

, while supportive candles around 0.7850 area could offer short-term buying opportunity. In long-term trends, now when we have broken below 0.80 handle, we believe that pair could go all the way to 0.75 handle which is next major supportive area on a long-term charts. We have no interest in buying this pair until we see decisive break above 0.8250 level what does not seem very likely in the near future.

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