On a long-term basis we have no interest in selling this pair, despite recent pullback, as we believe that there is plenty of support for it all the way to 0.73 handle. However, buying is not an option until we see more decisive break above at least 0.75 handle. Until then we would remain on the sidelines.
AUD/USD Weekly Forecast – 12 December – 16 December
Aussie formed support around 0.74 handle in the course of the last week and spent most o fit testing 0.75 handle as a resistance, which it did not manage to break and finished the week around 0.7450 area. Pair is quite stable despite rather week GDP figures. As for next week we would pay attention to Australian job figures, US data and FOMC Meeting. We can expect some amount of support around 0.74 and 0.7360 handle and resistance above 0.75 and 0.7550 handle.
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