8 Dec 2014
AUD/USD hits a fresh 4-1/2 year low
FXStreet (Mumbai) - The Australian dollar continues its downward streak against the US dollar to record a new 4-1/2 year low 0.8280 in the early Asian trading.
At time of writing, the pair trades at 0.8292 levels, down 0.22% from previous session close of 0.8308. The Aussie extended losses after dismal Chinese trade data showed an unexpected fall in imports in November. China is one of Australia’s top export destinations.
Moreover, spectacular US jobs data on Friday too added to the slump in the AUD/USD pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8302 (5-day SMA) levels, above which gains could be extended to 0.8308 (10-day SMA) levels and 0.8326 (20-day SMA). On the flip side, support is seen at 0.8268 (June 2009 Low), below which it could extend losses to 0.8239 (Sept 2009 Low) and 0.8154 (Aug 2009 Low) levels.
At time of writing, the pair trades at 0.8292 levels, down 0.22% from previous session close of 0.8308. The Aussie extended losses after dismal Chinese trade data showed an unexpected fall in imports in November. China is one of Australia’s top export destinations.
Moreover, spectacular US jobs data on Friday too added to the slump in the AUD/USD pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8302 (5-day SMA) levels, above which gains could be extended to 0.8308 (10-day SMA) levels and 0.8326 (20-day SMA). On the flip side, support is seen at 0.8268 (June 2009 Low), below which it could extend losses to 0.8239 (Sept 2009 Low) and 0.8154 (Aug 2009 Low) levels.