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16 Dec 2013
AUD/USD hovers near 3-month lows
FXstreet.com (Córdoba) - The AUD/USD continues to consolidate near 3-month lows just above 0.8900 as recovery attempts remain limited and short-lived.
The AUD/USD has spent the last sessions in a range constrained by 0.8907 on the downside and 0.8960 on the upside, unable to set a fresh direction ahead of RBA minutes Tuesday and FOMC decision Wednesday. The AUD/USD was heavily sold-off last week and remains vulnerable after RBA Stevens came out and said the Aussie should be closer to 0.85 after reiterating in several occasions a strong currency is hurting the economy.
AUD/USD technical levels
The AUD/USD is currently trading at the 0.8930 zone, 0.3% below its opening price with the 50-hour SMA offering immediate resistance at 0.8945. Next resistances line up at 0.8960 (daily high) and 0.9000 (psychological level). On the other hand, supports could be found at 0.8907 (Dec 13 low), 0.8900 (psychological level) and 0.8892 (Aug 30 low).
The AUD/USD has spent the last sessions in a range constrained by 0.8907 on the downside and 0.8960 on the upside, unable to set a fresh direction ahead of RBA minutes Tuesday and FOMC decision Wednesday. The AUD/USD was heavily sold-off last week and remains vulnerable after RBA Stevens came out and said the Aussie should be closer to 0.85 after reiterating in several occasions a strong currency is hurting the economy.
AUD/USD technical levels
The AUD/USD is currently trading at the 0.8930 zone, 0.3% below its opening price with the 50-hour SMA offering immediate resistance at 0.8945. Next resistances line up at 0.8960 (daily high) and 0.9000 (psychological level). On the other hand, supports could be found at 0.8907 (Dec 13 low), 0.8900 (psychological level) and 0.8892 (Aug 30 low).