23 Dec 2014
AUD/USD recovers from fresh 4 ½-year lows
FXStreet (Córdoba) - AUD/USD managed to recover ground and erased intraday losses after hitting a fresh 4 ½-year low sub-0.8100 at the beginning of the European session.
The Australian dollar fell to its weakest level since June 2010 versus the greenback influenced by iron ore losses. AUD/USD bottomed out at 0.8088 before finding support and recovering nearly half a cent. At time of writing, the pair is trading at 0.8133, effectively unchanged on the day.
AUD/USD technical levels
As for technical levels, AUD/USD could find immediate resistances at 0.8172 (Dec 22 high) and 0.8194 (10-day SMA). On the other hand, supports are seen at 0.8088 (2014 low Dec 23) and 0.8066 (May 2010 low).
The Australian dollar fell to its weakest level since June 2010 versus the greenback influenced by iron ore losses. AUD/USD bottomed out at 0.8088 before finding support and recovering nearly half a cent. At time of writing, the pair is trading at 0.8133, effectively unchanged on the day.
AUD/USD technical levels
As for technical levels, AUD/USD could find immediate resistances at 0.8172 (Dec 22 high) and 0.8194 (10-day SMA). On the other hand, supports are seen at 0.8088 (2014 low Dec 23) and 0.8066 (May 2010 low).