Next week will be less eventful with Australian data so we would be more focused on US figures. Any type of resistive candles above 0.8320 level would offer nice short-term selling opportunity, while supportive candles near 0.8220 handle, initially in the week, and then even below 0.82 area would perhaps indicate short-term buying trend. However, at this moment we would avoid any buying bids for this pair.
AUD/USD Weekly Forecast - 15 December - 19 December
Despite better than forecasted Australian job figures and mixed US reading Aussie was unable to hold on any temporary gains sliding further into negative territory with a weekly closing few points above 0.8250 level. Aussie is not weak only against USD but also compared to its Tasman cousin NZD, so we believe that this a signal that this pair will head further down with a target at 0.80 handle and then possibly even lower.
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