20 Jan 2015
AUD/USD slumps to 0.8170
FXStreet (Edinburgh) - The Aussie dollar has fully retraced the earlier spike to the 0.8220 neighbourhood, with AUD/USD now dropping to the 0.8170 area.
AUD/USD hurt by US dollar
The resurgence of the greenback heavily weighed on the high-beta currencies today, with the pair coming down from session tops around 0.8220 and giving away the gains post-Chinese releases. Next of relevance in Oz will be the Consumer Confidence gauge by Wetspac for the month of January, preceding the more relevant Consumer Inflation Expectations and New Homes Sales by HIA.
On the technical space, strategists at Westpac argued “Momentum continues to decline as the multi-week consolidation lingers on. MT downtrend is unchanged. Resistance at 0.8280/90”.
AUD/USD levels to watch
At the moment the pair is retreating 0.50% at 0.8170 with the next support at 0.8160 (hourly low Jan.20) followed by 0.8146 (21-d MA) and finally 0.8134 (low Jan.15). On the upside, a breakout of 0.8218 (high Jan.20) would open the door to 0.8244 (high Jan.19) and ahead of 0.8256 (high Jan.16).
AUD/USD hurt by US dollar
The resurgence of the greenback heavily weighed on the high-beta currencies today, with the pair coming down from session tops around 0.8220 and giving away the gains post-Chinese releases. Next of relevance in Oz will be the Consumer Confidence gauge by Wetspac for the month of January, preceding the more relevant Consumer Inflation Expectations and New Homes Sales by HIA.
On the technical space, strategists at Westpac argued “Momentum continues to decline as the multi-week consolidation lingers on. MT downtrend is unchanged. Resistance at 0.8280/90”.
AUD/USD levels to watch
At the moment the pair is retreating 0.50% at 0.8170 with the next support at 0.8160 (hourly low Jan.20) followed by 0.8146 (21-d MA) and finally 0.8134 (low Jan.15). On the upside, a breakout of 0.8218 (high Jan.20) would open the door to 0.8244 (high Jan.19) and ahead of 0.8256 (high Jan.16).