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AUD/USD Daily Forecast - 29 January

Wednesday, Jan 28 2015

Supported by better than forecasted Trimmed Means CPI data, Aussie initially went up and broke 0.80 handle, but just as we have suspected this are proved to be too resistive at the moment with Aussie pulling back by the end of the session. As for tomorrow, we expect less volatile session in which 0.80 handle should offer significant amount of resistance

so this is where we would consider selling the pair, while area slightly below 0.79 handle should be supportive at the moment so this is where we would buy the pair on a short-term basis. On a long-term basis, we would wait for a break below recent lows to start shorting market with a target set at 0.75 handle, which should offer significant amount of support being round, psychologically important figure.

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