AUD/USD Daily Forecast - 31 January

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Wednesday, Jan 31 2018

AUD/USD Daily Forecast - 31 January

Aussie was initially pushed lower in the course of the yesterday's session but found support around 0.8040 area, and managed to rebound by the end of the session but 0.81 handle offered significant amount of resistance for a daily closing slightly below it. Focus of tomorrow's session will be on Australian CPI figures and FOMC. Pair is likely to find support around 0.8050 and 0.8030 handle, so these would be our short-term buying points, while we can expect some amount of resistance above 0.8180 handle.

Long-term looking, selling is not an option at the moment, as we are well above 0.78 handle. However, we believe pair will find plenty of resistance above 0.83 handle.

More in this category: « EUR/USD Daily Forecast - 30 January GBP/USD Daily Forecast - 31 January »

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