Back
18 Dec 2013
AUD/USD hits 4-month low ahead of the Fed
FXstreet.com (Córdoba) - Following a consolidation phase around 0.8900, the AUD/USD hit a fresh 4-month low as the greenback strengthened just ahead of the Fed decision.
The AUD/USD extended losses into a third day Wednesday and touched its lowest since Aug 5 at 0.8867 during the American afternoon amid markets' jitters ahead of the Fed statement, when it finally will be revealed whether the bank thinks the economy is in good shape to begin scaling back its bond buying program.
AUD/USD technical levels
At time of writing, AUD/USD is trading at the 0.8880 zone, recording a 0.2% decline on the day. In terms of technical levels, the AUD/USD could face immediate supports at 0.8867 (Dec 18 low) and 0.8847 (Aug 5 low) ahead of 0.8800 (psychological level) On the other hand, resistances are seen at 0.8928 (daily high) and 0.8957 (Dec 17 high).
The AUD/USD extended losses into a third day Wednesday and touched its lowest since Aug 5 at 0.8867 during the American afternoon amid markets' jitters ahead of the Fed statement, when it finally will be revealed whether the bank thinks the economy is in good shape to begin scaling back its bond buying program.
AUD/USD technical levels
At time of writing, AUD/USD is trading at the 0.8880 zone, recording a 0.2% decline on the day. In terms of technical levels, the AUD/USD could face immediate supports at 0.8867 (Dec 18 low) and 0.8847 (Aug 5 low) ahead of 0.8800 (psychological level) On the other hand, resistances are seen at 0.8928 (daily high) and 0.8957 (Dec 17 high).