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2 Dec 2014
AUD/USD surrenders gains and dips below 0.8500
FXStreet (Córdoba) - AUD/USD failed to sustain its post-RBA gains and fell back below the 0.8500 level toward fresh daily lows during the European session.
The Australian dollar peaked at 0.8542 supported by a lack of dovish comments in the Reserve Bank of Australia statement, but gains proved short-lived. AUD/USD came back under pressure and resumed its slide toward its 4-year low scored yesterday as commodities’ recovery faded, and dropped over 80 pips to hit a low of 0.8453 in recent dealings. At time of writing, the pair is trading at 0.8460, recording a 0.33% loss on the day.
AUD/USD technical levels
In terms of technical levels, AUD/USD could find immediate supports at 0.8416 (2014 low Dec 1), 0.8400 (psychological level) and 0.8370 (Jul 5 2010 low). On the other hand, resistances are seen at 0.8542 (daily high), 0.8558 (10-day SMA) and 0.8600 (psychological level).
The Australian dollar peaked at 0.8542 supported by a lack of dovish comments in the Reserve Bank of Australia statement, but gains proved short-lived. AUD/USD came back under pressure and resumed its slide toward its 4-year low scored yesterday as commodities’ recovery faded, and dropped over 80 pips to hit a low of 0.8453 in recent dealings. At time of writing, the pair is trading at 0.8460, recording a 0.33% loss on the day.
AUD/USD technical levels
In terms of technical levels, AUD/USD could find immediate supports at 0.8416 (2014 low Dec 1), 0.8400 (psychological level) and 0.8370 (Jul 5 2010 low). On the other hand, resistances are seen at 0.8542 (daily high), 0.8558 (10-day SMA) and 0.8600 (psychological level).