20 Jan 2014
AUD/USD makes new multi-year lows
FXstreet.com (Bali) - AUD/USD has been sold-off in the past few minutes, breaking marginally into a fresh 3-year low.
Ahead of China's GDP Q4 data, along with other second-tier indicators, all due at 2GMT, the AUD/USD technicals suggests further falls are likely.
According to Jim Langlands, Founder at FXCharts: "In the near term, 8750/60 remains strong support, although the Aud is showing precious little sign of any bounce. Below there is the base of the long term channel, – currently at around 0.8730 – and if still short, I would be squaring up, if we see it, for the short term at least."
Ahead of China's GDP Q4 data, along with other second-tier indicators, all due at 2GMT, the AUD/USD technicals suggests further falls are likely.
According to Jim Langlands, Founder at FXCharts: "In the near term, 8750/60 remains strong support, although the Aud is showing precious little sign of any bounce. Below there is the base of the long term channel, – currently at around 0.8730 – and if still short, I would be squaring up, if we see it, for the short term at least."