AUD/USD Price Forecast – Australian Dollar Continues to Hang Around 50 Day EMA

The Australian dollar has gone back and forth during the course of the trading session on Monday, as we are hanging around the same level that we have been in for the last couple of days. Quite frankly, this is one of the pairs right now that look like they do not really want to go anywhere, so this is not one that I will be trading between now and New Year’s Day.

AUD/USD Video 28.12.21

That being said, I will be looking for some type of exhaustion that I can sell later, perhaps some type of short-term spike that shows a lot of exhaustion. The 0.72 level seems to be offering support, so if we were to turn on a breakdown below there, I think that would probably be a fair signal to start shorting as well. Keep in mind that this pair is highly sensitive to risk appetite at times, but I do not think there is going to be much going on over the next couple of days it will be very risky at all.

You can see how noisy has been on the way appear, and how indecisive the whole thing has been. Because of this, I do not have any interest in trying to put money to work quite yet, and I think it will probably be at least a week before I see any clarity to do so, if not two weeks when we finally get the jobs report out of America. Between now and then, there is just not going to be a lot to move the markets.

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