11 Dec 2014
AUD/USD holds above 0.83 handle
FXStreet (Mumbai) - The Australian dollar extended gains from the previous session and trades higher against the US dollar, snapping a week-long run of losses.
At time of writing, the pair trades at 0.8326 levels, up 0.13% from previous session close of 0.8317. The AUD/USD pair trades higher on upbeat Oz jobs data which showed more than estimates jobs creation numbers. A net 42,700 jobs were created in Australia in November; the market forecast was for net job growth of 15,000.
However, the pair remains exposed to downside risk after Australia's consumer inflation expectations decreased in December, results of a survey from the Melbourne Institute showed today. The expected inflation rate fell to 3.4% in December from 4.1% in November. The survey reflected consumers' expectations of slowdown in economic activity in December.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8341 (5-day SMA) levels, above which gains could be extended to 0.8374 (200-day SMA) levels. On the flip side, support is seen at 0.8306 (50-day SMA), below which it could extend losses to 0.8261 (Dec 10 Low) levels.
At time of writing, the pair trades at 0.8326 levels, up 0.13% from previous session close of 0.8317. The AUD/USD pair trades higher on upbeat Oz jobs data which showed more than estimates jobs creation numbers. A net 42,700 jobs were created in Australia in November; the market forecast was for net job growth of 15,000.
However, the pair remains exposed to downside risk after Australia's consumer inflation expectations decreased in December, results of a survey from the Melbourne Institute showed today. The expected inflation rate fell to 3.4% in December from 4.1% in November. The survey reflected consumers' expectations of slowdown in economic activity in December.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8341 (5-day SMA) levels, above which gains could be extended to 0.8374 (200-day SMA) levels. On the flip side, support is seen at 0.8306 (50-day SMA), below which it could extend losses to 0.8261 (Dec 10 Low) levels.