23 Dec 2014
AUD/USD lining up ahead of key supports
FXStreet (Guatemala) - AUD/USD is trading at 0.8094, down -0.46% on the day, having posted a daily high at 0.8146 and low at 0.8088.
AUD/USD is testing the downside in broad dollar strength this year over the Christmas season. 0.8100 psychological support was broken at the start of the day and has been oscillating around the level again further into the trading session. The catalyst for the strength in the greenback was in the Annualised GDP (Q3) for the US that came in significantly higher than expectations with 5% vs 4.3% and 4.6% previous.
AUD/USD downside key support
Technically, below the 0.0888 recent low lies the 0.8068 2010 low. There is a long-term double Fibonacci support at 0.7950/30 and Karen Jones, chief analyst at Commerzbank explained there these are major levels of support for the market and she said she would expect to see signs of recovery down there.
AUD/USD is testing the downside in broad dollar strength this year over the Christmas season. 0.8100 psychological support was broken at the start of the day and has been oscillating around the level again further into the trading session. The catalyst for the strength in the greenback was in the Annualised GDP (Q3) for the US that came in significantly higher than expectations with 5% vs 4.3% and 4.6% previous.
AUD/USD downside key support
Technically, below the 0.0888 recent low lies the 0.8068 2010 low. There is a long-term double Fibonacci support at 0.7950/30 and Karen Jones, chief analyst at Commerzbank explained there these are major levels of support for the market and she said she would expect to see signs of recovery down there.