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3 Dec 2014
AUD/USD flirting with 0.8400
FXStreet (Edinburgh) - After dipping to fresh multi-year lows near 0.8390, AUD/USD is now managing to regain the 0.8400 handle.
AUD/USD weaker post-GDP
Spot dropped near 80 pips from the 0.8470 area after the GDP figures in the Australian economy disappointed investors today, showing that the economy expanded less that expected 0.3% inter-quarter and 2.7% over the last twelve months. Data from Services PMI in China improved a tad to 53.9 from 53.8 in the official version and to 53.0 from 52.9 in the HSBC gauge for the month of November, although they were not enough to curb the pessimism around AUD. Next of note in Oz will be the Retail Sales and the Trade Balance results during October.
AUD/USD key levels
The pair is retreating 0.48% at 0.8406 with the next support at 0.8388 (2014 low Dec.3) followed by 0.8315 (low Jul.1 2010) and then 0.8269 (low Jun.10 2010). On the flip side, a breakout of 0.8545 (high Nov.28) would expose 0.8559 (10-d MA) and finally 0.8619 (high Nov.25).
AUD/USD weaker post-GDP
Spot dropped near 80 pips from the 0.8470 area after the GDP figures in the Australian economy disappointed investors today, showing that the economy expanded less that expected 0.3% inter-quarter and 2.7% over the last twelve months. Data from Services PMI in China improved a tad to 53.9 from 53.8 in the official version and to 53.0 from 52.9 in the HSBC gauge for the month of November, although they were not enough to curb the pessimism around AUD. Next of note in Oz will be the Retail Sales and the Trade Balance results during October.
AUD/USD key levels
The pair is retreating 0.48% at 0.8406 with the next support at 0.8388 (2014 low Dec.3) followed by 0.8315 (low Jul.1 2010) and then 0.8269 (low Jun.10 2010). On the flip side, a breakout of 0.8545 (high Nov.28) would expose 0.8559 (10-d MA) and finally 0.8619 (high Nov.25).