Towards Christmas, the calendar is rather light, but still includes some important figures for the Australian dollar. Here’s an outlook for the upcoming events and an updated technical analysis for AUD/USD. The Aussie managed to top parity in the past week, rising on temporary optimism, but it then retreated. Will it improve its positions towards the new year? AUD/USD daily chart with support and resistance lines on it. Click to enlarge: CB Leading Index: Monday, 23:00. This composite index of 7 indicators disappointed with a dip last month. A correction is expected this time with a small rise. While most of the components have already been released, the release still has an impact on the Aussie. Monetary Policy Meeting Minutes: Tuesday, 00:30. The RBA decided not to change the interest rates in its last meeting, as expected, but the tone of the statement was surprisingly good. We’ll now get a better view of the bank’s views on the economy, inflation and employment. The protocols always rock the Aussie. MI Leading Index: Tuesday, 23:30. The Melbourne Institute has a composite index of its own, made out of 9 indicators. Given the thin trading conditions, any figure will shake the currency. After remaining unchanged last time, a rise is predicted now. AUD/USD Technical Analysis The Aussie had a strong start to the week, topping parity. But it remained there only for a short time, before it dropped and traded in a narrow range, between 0.9840 and 0.9920, finally closing in the middle – 0.9879, a weekly change of only 20 pips. Note that some of the lines have been modified since last week’s outlook. Looking down, 0.9840 provided support for the pair in the past week, and also was a pivotal line beforehand. It provides immediate support. Below, 0.9724 worked as support several times in recent weeks and is a strong line now. Lower, 0.9660 is now only a minor support, but it’s still significant. Below, 0.9540 proved to be a very strong line, being a swing low a few months ago, and also two weeks ago. Even lower, 0.9465 provided support for the pair when it struggled on the way up, and is already stronger support. The next lines are close – 0.9366 was a peak back in April, and 0.9327 capped the pair lots of times beforehand. 0.9220 was a peak earlier in the year and is the last support line for now. Looking up, 0.9920 worked as a high hurdle on the way to parity, and has the same role now. AUD/USD is not only a very round number, but also proved to be a strong line of resistance. Beyond parity, 1.0085 was the bottom border of a high range the Aussie enjoyed at the beginning of November, and the upper border is 1.0180. Beyond these levels, it’s uncharted territory, with 1.03 being the next line. I remain neutral on the Aussie for another week. The greenback’s strength, especially with higher yields on bonds, and the uncertainty about the Chinese moves balances the great Australian fundamentals. Further reading: For a broad view of all the week’s major events worldwide, read the USD outlook. For EUR/USD, check out the Euro/Dollar forecast. For the Japanese yen, read the USD/JPY forecast. For GBP/USD (cable), look into the British Pound forecast. For the New Zealand dollar (kiwi), read the NZD forecast. For USD/CAD (loonie), check out the Canadian dollar. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam AUD/USD ForecastMinors share Read Next Canadian Dollar – December 20-24 Anat Dror 12 years Towards Christmas, the calendar is rather light, but still includes some important figures for the Australian dollar. Here's an outlook for the upcoming events and an updated technical analysis for AUD/USD. The Aussie managed to top parity in the past week, rising on temporary optimism, but it then retreated. Will it improve its positions towards the new year? AUD/USD daily chart with support and resistance lines on it. Click to enlarge: CB Leading Index: Monday, 23:00. This composite index of 7 indicators disappointed with a dip last month. A correction is expected this time with a small rise. While most… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.