9 Dec 2014
Aussie slides, hits a fresh 4-1/2 year low
FXStreet (Mumbai) - The Australian dollar continues its descent against the US dollar and clocked a new 4-1/2 year low of 0.8222 in the early Asian trading.
At time of writing, the pair trades at 0.8234 levels, down -0.75% from previous session close of 0.8294. The AUD/USD pair extended losses after slump in commodity prices globally and a weak business confidence data published by National Australia Bank's (NAB) did little to support the Aussie.
NAB Business Confidence Index declined to 1 in November from a revised 5 a month earlier, while the NAB Business Conditions Index plunged to 5 from 13, where a figure above zero shows improving conditions.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8283 (20-day SMA) levels, above which gains could be extended to 0.8309 (50-day SMA) levels. On the flip side, support is seen at 0.8154 (Aug 2009 Low), below which it could extend losses to 0.8081 (June 2010 Low) levels.
At time of writing, the pair trades at 0.8234 levels, down -0.75% from previous session close of 0.8294. The AUD/USD pair extended losses after slump in commodity prices globally and a weak business confidence data published by National Australia Bank's (NAB) did little to support the Aussie.
NAB Business Confidence Index declined to 1 in November from a revised 5 a month earlier, while the NAB Business Conditions Index plunged to 5 from 13, where a figure above zero shows improving conditions.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8283 (20-day SMA) levels, above which gains could be extended to 0.8309 (50-day SMA) levels. On the flip side, support is seen at 0.8154 (Aug 2009 Low), below which it could extend losses to 0.8081 (June 2010 Low) levels.