Weaker than expected figures would push pair a bit higher with a resistance around 0.82 handle, while better than forecasted data would cause further downtrend to 0.8080 area initially and then 0.8050 in extension, at which point we can expect some amount support. On a long-term basis we have no interest in buying this pair as we believe that it will continue its downtrend with a target set at 0.80 handle. Any rallies, which cannot be excluded as Aussie is a bit oversold at the moment, should be seen as just another selling opportunity.
Last modified on Friday, 19 December 2014AUD/USD Weekly Forecast - 22 December - 26 December
Aussie broke further lower during the last week. Though there were no major data releases from Australia decline in iron ore prices and soft gold markets along with hawkish Janet Yellen remarks had negative impact on Aussie which finished the week around 0.8120 level. There will be no major data releases next week from Australia, due to holiday season, so we would be focused on US Durable Goods Orders data.
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