AUD/USD The battle for 0.81 continues with busy Wednesday

Aussie lost ground during last sessions but is trying to recover. Nevertheless the battle for the 0.81 area remains in force. Today the AUD/USD pair marked daily high at 0.8113 but eased with US opening and currently is trading at 0.8084.The slide from the top took place amid the renewed rally of the greenback and the falling prices of oil and gold.

Technically speaking the short term outlook remains neutral. On the four hour time frame the price is moving above its 100-day and 200-day SMAs, while the 20-day one keeps flat around 0.8083 and the bulls fail to conquer it. RSI is located around its mid-line with lack of directional strength. Stochastic is showing bearish momentum with current location at 43. 

To add some gains the AUD/USD pair should first break the 0.8135 level in order to generate power to test the 0.8200 handle.

The upcoming Asian session will bring Australia’a December inflation figures which may push Aussie higher in case they come above expected. From the US side we’ll have President Trump’s speech, the ADP private employment report is due and then the Federal Reserve will announce its decisions. So busy Wednesday ahead and it’ll be interesting to observe the pair’s movement.