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15 Dec 2014
AUD/USD resumes the drop
FXStreet (Córdoba) - AUD/USD has resumed the decline ahead of the New York opening as the Sydney hostage situation and soft commodity prices weighed on the Aussie.
AUD/USD bounced from a fresh 4-year low of 0.8203 during the Asian session but the recovery was capped by the 0.8270 area, turning the pair back south with government budget forecasts also contributing to weaken the AUD. Australian government announced that it expected cumulative budget deficits of AUD 111 billion over the next four years.
AUD/USD technical levels
At time of writing, AUD/USD is trading at 0.8210, 0.39% below its opening price and just a few pips away from its cycle low. As for technical levels, if the pair breaks below 0.8200, next supports are seen at 0.8185 (May 24 2010 low) and not much till 0.8100. On the flip side, short-term resistances could be found at 0.8270 (daily high), 0.8298/0.8300 (Dec 12 high/psychological level) and 0.8315 (200-hour SMA).
AUD/USD bounced from a fresh 4-year low of 0.8203 during the Asian session but the recovery was capped by the 0.8270 area, turning the pair back south with government budget forecasts also contributing to weaken the AUD. Australian government announced that it expected cumulative budget deficits of AUD 111 billion over the next four years.
AUD/USD technical levels
At time of writing, AUD/USD is trading at 0.8210, 0.39% below its opening price and just a few pips away from its cycle low. As for technical levels, if the pair breaks below 0.8200, next supports are seen at 0.8185 (May 24 2010 low) and not much till 0.8100. On the flip side, short-term resistances could be found at 0.8270 (daily high), 0.8298/0.8300 (Dec 12 high/psychological level) and 0.8315 (200-hour SMA).