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Forex pairs in this Article » AUD/USD (Barcelona) - With Aussie Private Credit data already out at 0.0% for the month to month figure in Nov and seasonally adjusted to +0.4% while year on year showed a +3.5% increase, AUDUSD deals around session highs last at 1.0399, still capped below the 1.04 round mark. Despite lack of progress on weekend US "fiscal cliff" talks, Aussie moves to the upside from previous Friday's weekly close around 1.0372.

"The failure to post fresh short-term lows below 1.0350 is forcing the bears' hand and we are seeing some mild short-covering emerge, with AUDUSD now back above 1.0400," says FXWW founder Sean Lee, with Aussie session highs at 1.0405. "Further range trading is anticipated here in coming sessions," Sean adds. The pair is up +0.29% for the week so far.

Immediate resistance to the upside for AUDUSD shows at current levels as Dec 03 lows, followed by Dec 24 highs at 1.0417, and Dec 06 lows at 1.0441. To the downside, closest support lies at Dec 24/recent session lows 1.0360, followed by Dec 26 lows at 1.0344, and Nov 16 lows/200 day SMA at 1.0290/83.
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