AUD/USD Daily Forecast – 05 January

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Thursday, Jan 04 2018

AUD/USD Daily Forecast – 05 January

Aussie broke higher in the course of the yesterday's session going all the way to 0.7860 area by the end of the session after it initially formed support around 0.7810 level. Tomorrow, we would pay attention to Australian Trade Balance figures and US job data. Pair is likely to find support around 0.7830 and 0.78 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.79 handle.

Long-term looking, selling is not an option at the moment, as we are now above 0.78 handle. However, we believe it is best to stay on the sidelines at the moment.

More in this category: « EUR/USD Daily Forecast – 04 January GBP/USD Daily Forecast – 05 January »

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