1 Dec 2014
AUD/USD erases losses and rises above 0.8470
FXStreet (Córdoba) - AUD/USD moved toward 0.8500 during the last hours trimming losses favored by the decline of the US dollar across the board.
During the Asian session the pair bottomed at 0.8415, fresh 4-year low and then rebounded but the recovery was limited by 0.8455; hours ago broke above and printed a daily high at 0.8497.
Despite the recovery AUD/USD is trading below the price it close on Friday, keeping a bearish gap still open. Last week finished at 0.8509 and so far it has been unable to trade above 0.8500 on Monday.
AUD/USD technical levels
To the upside, immediate resistance lies at 0.8495 - 0.8500 (daily high) and above here at 0.8527 and 0.8540 (Nov 28 high). On the opposite direction, support might now lie at 0.8475 and below here at 0.8455 and 0.8415 (daily low).
During the Asian session the pair bottomed at 0.8415, fresh 4-year low and then rebounded but the recovery was limited by 0.8455; hours ago broke above and printed a daily high at 0.8497.
Despite the recovery AUD/USD is trading below the price it close on Friday, keeping a bearish gap still open. Last week finished at 0.8509 and so far it has been unable to trade above 0.8500 on Monday.
AUD/USD technical levels
To the upside, immediate resistance lies at 0.8495 - 0.8500 (daily high) and above here at 0.8527 and 0.8540 (Nov 28 high). On the opposite direction, support might now lie at 0.8475 and below here at 0.8455 and 0.8415 (daily low).