19 Jan 2015
AUD/USD finds support around 0.8200
FXStreet (Edinburgh) - The Aussie dollar trades on the defensive camp on Monday, although AUD/USD has managed to keep business above the 0.8200 handle so far.
AUD/USD weaker on data
Spot continues to correct lower after recent peaks in levels just shy of 0.8300 the figure last week in response to the better-than-expected jobs report in Oz during December. In the data front, inflation figures tracked by TD Securities showed consumer prices climbed 1.5% on a year to December, sensibly lower than the 2.2% advance registered in the previous month.
In the opinion of Emmanuel Ng, FX Strategist at OCBC Bank, “With the AUD a recent beneficiary of EUR vulnerability, the AUD-USD may remain a buy dips pair for now ahead of the China data stream tomorrow”.
AUD/USD key levels
As of writing the pair is dropping 0.35% at 0.8206 with the immediate support at 0.8161 (10-d MA) ahead of 0.8134 (low Jan.15) and then 0.8068 (low Jan.14). On the upside, a breakout of 0.8244 (hourly high Jan.19) would open the door to 0.8256 (high Jan.16) and finally 0.8295 (high Jan.15).
AUD/USD weaker on data
Spot continues to correct lower after recent peaks in levels just shy of 0.8300 the figure last week in response to the better-than-expected jobs report in Oz during December. In the data front, inflation figures tracked by TD Securities showed consumer prices climbed 1.5% on a year to December, sensibly lower than the 2.2% advance registered in the previous month.
In the opinion of Emmanuel Ng, FX Strategist at OCBC Bank, “With the AUD a recent beneficiary of EUR vulnerability, the AUD-USD may remain a buy dips pair for now ahead of the China data stream tomorrow”.
AUD/USD key levels
As of writing the pair is dropping 0.35% at 0.8206 with the immediate support at 0.8161 (10-d MA) ahead of 0.8134 (low Jan.15) and then 0.8068 (low Jan.14). On the upside, a breakout of 0.8244 (hourly high Jan.19) would open the door to 0.8256 (high Jan.16) and finally 0.8295 (high Jan.15).