8 Dec 2014
AUD/USD hovers around 0.8300
FXStreet (Córdoba) - AUD/USD managed to erase intraday losses and trades nearly flat on the day after hitting a 4 ½-year low on the back of disappointing Chinese data.
AUD/USD bottomed out at 0.8259, also weighed by broad USD strength, but bounced and climbed back above 0.8300 in recent dealings. At time of writing, the pair is trading little changed at 0.8305, after the recovery was capped by 0.8315.
AUD/USD technical perspective
Valeria Bednarik, chief analyst at FXStreet comments that 1-hour charts hold a neutral stance, but bigger time frames show the long term bearish trend intact.
Bednarik locates next supports at 0.8290, 0.8255 and 0.8220, while resistances are seen at 0.8330, 0.8380 and 0.8415.
AUD/USD bottomed out at 0.8259, also weighed by broad USD strength, but bounced and climbed back above 0.8300 in recent dealings. At time of writing, the pair is trading little changed at 0.8305, after the recovery was capped by 0.8315.
AUD/USD technical perspective
Valeria Bednarik, chief analyst at FXStreet comments that 1-hour charts hold a neutral stance, but bigger time frames show the long term bearish trend intact.
Bednarik locates next supports at 0.8290, 0.8255 and 0.8220, while resistances are seen at 0.8330, 0.8380 and 0.8415.