17 Jan 2014
AUD/USD posts lowest daily close since July 2010
FXstreet.com (Córdoba) - The AUD/USD fell for the third day in a row and finished at 0.8821, the lowest daily close in 3 and a half years. A weak Australian jobs report pushed the Aussie to the downside across the board.
During the European session the AUD/USD found support at 0.8775 from where it bounced and trimmed some losses, rising back above 0.8800. After falling 270 pips from Monday's highs, some consolidation ahead is likely for the coming hours, at least until the release of US economic data.
Technical outlook for the AUD/USD
According to the FXTechstrategy Team, the 0.8750 level is a psychological one, where bulls may come in, but “if that level fails to hold, expect further decline to occur towards the 0.8700 level, its psycho level and subsequently the 0.8650 level”.
To the upside, the FXTechstrategy Team sees resistance at 0.8915 level (January 16 high), followed by the 0.9000 mark, “its big psycho level with a cut through here paving the way for a run at the 0.9050 level”.
During the European session the AUD/USD found support at 0.8775 from where it bounced and trimmed some losses, rising back above 0.8800. After falling 270 pips from Monday's highs, some consolidation ahead is likely for the coming hours, at least until the release of US economic data.
Technical outlook for the AUD/USD
According to the FXTechstrategy Team, the 0.8750 level is a psychological one, where bulls may come in, but “if that level fails to hold, expect further decline to occur towards the 0.8700 level, its psycho level and subsequently the 0.8650 level”.
To the upside, the FXTechstrategy Team sees resistance at 0.8915 level (January 16 high), followed by the 0.9000 mark, “its big psycho level with a cut through here paving the way for a run at the 0.9050 level”.