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23 Jan 2015
AUD/USD trades near 4-1/2 yr lows, below 0.80 mark
FXStreet (MUmbai) - AUD/USD fell to its lowest in more than four years, breaking below the crucial 0.80 threshold, as the USD bulls continue to hammer the Aussie.
Currently, the AUD/USD traded at 0.7999 levels, down -0.37% on the day, recovering slightly from fresh four and a half year lows posted at 0.7965 levels earlier in the session. The Aussie pair extends its losing streak on the back of continued decline in bullion and industrial metals. Moreover, increased bets on a rate cut by Reserve Bank of Australia (RBA) following Canada's central bank unexpectedly rate cut earlier this week, may also weigh on AUD/USD.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8052 levels, above which gains could be extended to 0.8080 levels. On the flip side, support is seen at 0.7965 from here it to 0.7920 levels.
Currently, the AUD/USD traded at 0.7999 levels, down -0.37% on the day, recovering slightly from fresh four and a half year lows posted at 0.7965 levels earlier in the session. The Aussie pair extends its losing streak on the back of continued decline in bullion and industrial metals. Moreover, increased bets on a rate cut by Reserve Bank of Australia (RBA) following Canada's central bank unexpectedly rate cut earlier this week, may also weigh on AUD/USD.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8052 levels, above which gains could be extended to 0.8080 levels. On the flip side, support is seen at 0.7965 from here it to 0.7920 levels.