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11 Dec 2014
AUD/USD nears 4-year low, below 0.83 handle
FXStreet (Mumbai) - AUD/USD erased gains from the Asian session and traded lower close to the four-year low of 0.8221 levels, lowest since July 2010.
The pair trades now at 0.8261 levels, down -0.66%, after having hammered a low at 0.8238 levels. The AUD/USD pair drifted lower and failed to sustain above 0.83 handle as broad based dollar strength pulled the Aussie down.
The pair remains pressured after Australia's consumer inflation expectations decreased to 3.4% in December from 4.1% in November, reflecting consumers' expectations of slowdown in economic activity in December.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8300 levels, above which gains could be extended to 0.8325 (Dec 8 High) levels. On the flip side, support is seen at 0.8221 (Dec Dec 9 Low), from here it could break below 0.82 handle.
The pair trades now at 0.8261 levels, down -0.66%, after having hammered a low at 0.8238 levels. The AUD/USD pair drifted lower and failed to sustain above 0.83 handle as broad based dollar strength pulled the Aussie down.
The pair remains pressured after Australia's consumer inflation expectations decreased to 3.4% in December from 4.1% in November, reflecting consumers' expectations of slowdown in economic activity in December.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8300 levels, above which gains could be extended to 0.8325 (Dec 8 High) levels. On the flip side, support is seen at 0.8221 (Dec Dec 9 Low), from here it could break below 0.82 handle.