AUDUSD Technical Forecast


After recovering, the 20 December AUDUSD Technical Forecast shows the pair seems to have found a comfort zone between 0.7630 and 0.7700. Learn more.

20 December, GKFX – Despite the US tax reform optimism and the resulting rise in the Treasury yields, the AUD/USD pair is trading above the 50-day MA of 0.7659.

20 December AUDUSD Technical Forecast

  • Aussie holds above 50-day MA.
  • AU-US yield spread widens, AUD/USD could test 200-day MA hurdle.

The resilience is not surprising, given the spread or the difference between the 10-year Aussie bond yield and the US Treasury yield has increased in the AUD-positive manner to 19 basis points (bps) today from the previous day’s print of 12 bps.

The AUD favourable yield spread indicates the spot could rise to 200-day MA hurdle of 0.7692.

Support levels: 0.7640 0.7600 0.7570

Resistance levels: 0.7700 0.7730 0.7770

Disclaimer

This article “ 20 December AUDUSD Technical Forecast ” was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

    Share Your Opinion, Write a Comment