AUD/USD Weekly Forecast - 12 January - 16 January
Aussie tested 0.80 handle during the last week but found it to be supportive enough at the moment in order to rebound and finish the week slightly below 0.82 handle. As for next week we would pay attention to Australian job figures. Weaker than expected figures would push pair again towards 0.80 handle, where buyers should once again step in so this is where we would buy the pair on a short-term basis.
On the other side, better than forecasted data would push pair higher, but with a resistance around 0.8280 level where we would sell the pair. In long-term trends, we remain neutral for this pair. 0.80 handle is major support level on a long-term charts and it is not likely that we would see Aussie broke decisively below it in the next few session. However, any gains should be limited by 0.85 handle, at which point we would once again start looking for resistive candles in order to start selling the market yet again.
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