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AUD/USD Daily Forecast - 05 January

Friday, Jan 02 2015

Aussie spent most of the Friday's session in decline with a daily closing around 0.81 handle. There were no major data releases from Australia, however, after pair formed a shooting star on Wednesday, unable to break decisively above 0.82 handle this decline came as a natural. Monday's session should be a steadier one since there will be no major data releases both from Australia and USA.

Pair is likely to find support around 0.8080 level and 0.8050 in extension so these would be our short-term buying points, while we can expect resistance above 0.8160 level. On a long-term basis, we believe that pair will hit 0.80 handle where it should find significant amount of support base on a long-term charts.

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