AUD/USD forecast for December 14, 2020

Looking at the chart on the weekly time frame, we see that the bullish scenario is still very strong and in the coming period to some stronger resistance at higher levels. The AUD/USD pair is currently testing a zone around 0.75000, where we can expect less consolidation and a continuation upwards, as no recovery of the dollar is seen in any short term.
Technically, the Australian dollar is supported by all three moving averages MA50, MA100, and from last month MA200 after April 2018. We can look for the resistance zone above around 0.77500 to 0.80000. The continuation of the bulls scenario is very likely.

On the daily chart, we see strong support and rejection above 0.74000. It is currently above 0.75500 and looking at 0.76000 in the coming period. The AUD/USD pair is supported with all three moving averages. The bullish trend’s strength is out of Bollinger bands 100, which is a good indicator for further continuation towards higher new ones on the chart. Higher resistance can be seen at 0.77000.

The four-hour chart shows us how the AUD/USD pair finds support and goes to a higher level. The Technical support for all three moving averages MA50, MA100, and MA200. The bullish trend is very strong, and this can be expected in the coming period. soon, we can see the pair at 0.76000, and if it continues in that direction, then at 0.77000.

There is a lot of economic news for both currencies this week; we can single out the following: The Reserve Bank of Australia (RBA) Monetary Policy Meeting tomorrow Tuesday morning to expect statements on next moves regarding interest rates and potential financial measures to help the economy.
For the Australian dollar, we have other economic news The Australian Manufacturing Purchasing Managers Index, The Australian Services Purchasing Managers Index, The Westpac / Melbourne Institute (MI) Leading Index, and The Unemployment Rate.
The most important economic news for the US dollar is the Federal Open Market Committee (FOMC) statement on the interest rate on Wednesday and the statements of Fed officials on the next potential moves. This week can be considered very volatile for the AUD/USD currency pair.