8 Dec 2014
AUD/USD trims daily losses
FXStreet (Córdoba) - AUD/USD bounced off fresh 4 ½-year lows during the European session as the greenback eases a tad after an impressive rally triggered by US nonfarm payrolls Friday.
AUD/USD bottomed out at 0.8259, last seen Jun 9 2010, weighed by disappointing Chinese trade data, but found support and staged a recovery coincidentally with a USD pullback across the board. At time of writing, AUD/USD is trading at 0.8310, virtually unchanged since opening.
AUD/USD levels to watch
As for technical levels, AUD/USD could find immediate resistances at 0.8325 (Dec 5 close), 0.8381 (100-hour SMA) and 0.8400 (psychological level). On the flip side, supports are seen at 0.8259 (2014 low Dec 8), 0.8195 (Jun 9 2010 low) and 0.8080 (Jun 7 2010 low).
AUD/USD bottomed out at 0.8259, last seen Jun 9 2010, weighed by disappointing Chinese trade data, but found support and staged a recovery coincidentally with a USD pullback across the board. At time of writing, AUD/USD is trading at 0.8310, virtually unchanged since opening.
AUD/USD levels to watch
As for technical levels, AUD/USD could find immediate resistances at 0.8325 (Dec 5 close), 0.8381 (100-hour SMA) and 0.8400 (psychological level). On the flip side, supports are seen at 0.8259 (2014 low Dec 8), 0.8195 (Jun 9 2010 low) and 0.8080 (Jun 7 2010 low).