29 Jan 2015
AUD/USD dives 1% to fresh 5-1/2 yr lows
FXStreet (MUmbai) - AUD/USD slumped to fresh five and a half year lows in the mid-European session, triggering a fresh sell-off below the 0.79 barrier after the slightly hawkish FOMC statement.
Aussie likely to attack monthly 200-SMA
Currently, the AUD/USD trades 1% lower on the day at 0.7811 levels, near fresh 5-1/2 year lows of 0.7807 levels reached few minutes ago. The Aussie collapse was further exacerbated by falling commodity prices across the board with copper down 1.50%, gold lower by 1% and silver down over 2.5%. Australian economy is resources-linked and is highly dependent on commodity for its exports.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7850 levels, above which gains could be extended to 0.7896 levels. On the flip side, support is seen at 0.7802 from here it to 0.7787 levels
Aussie likely to attack monthly 200-SMA
Currently, the AUD/USD trades 1% lower on the day at 0.7811 levels, near fresh 5-1/2 year lows of 0.7807 levels reached few minutes ago. The Aussie collapse was further exacerbated by falling commodity prices across the board with copper down 1.50%, gold lower by 1% and silver down over 2.5%. Australian economy is resources-linked and is highly dependent on commodity for its exports.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7850 levels, above which gains could be extended to 0.7896 levels. On the flip side, support is seen at 0.7802 from here it to 0.7787 levels