13 Jan 2015
AUD/USD struggles to hold gains, back below 5-DMA
FXStreet (Mumbai) - The Aussie remains elevated against the US dollar, giving up partial gains from the Asian session as falling oil prices continue to weigh on the Aussie.
Currently, the AUD/USD traded at 0.8168, up 0.13% on the day, retreating from intraday high of 0.8198 levels hit in the Asian morning. The Aussie defended mild versus the greenback, however remains pressured on sliding oil and copper prices. Moreover, a sluggish Chinese imports data which showed that imports eased 2.3% from the same month a year ago in December is likely to weigh on the AUD/USD as China is Australia’s top trading partner.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8176 (5-DMA) levels, above which gains could be extended to 0.8213 (Jan 9 High) levels. On the flip side, support is seen at 0.8128 (10-DMA) levels, from here it to 0.81 levels.
Currently, the AUD/USD traded at 0.8168, up 0.13% on the day, retreating from intraday high of 0.8198 levels hit in the Asian morning. The Aussie defended mild versus the greenback, however remains pressured on sliding oil and copper prices. Moreover, a sluggish Chinese imports data which showed that imports eased 2.3% from the same month a year ago in December is likely to weigh on the AUD/USD as China is Australia’s top trading partner.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8176 (5-DMA) levels, above which gains could be extended to 0.8213 (Jan 9 High) levels. On the flip side, support is seen at 0.8128 (10-DMA) levels, from here it to 0.81 levels.