20 Jan 2015
AUD/USD back above 0.8200
FXStreet (Córdoba) - The Australian dollar managed to erase intraday losses and climbed back above the 0.8200 level during the European session, to trade nearly flat on the day.
AUD/USD failed to benefit from better-than-expected Chinese economic growth in the final quarter of 2014 as any optimism over China quickly faded after the IMF downgraded its global growth expectations.
AUD/USD weakened and dropped to a low of 0.8159 during the Asian trade but eventually found buyers, took back losses and climbed to a daily high of 0.8217. At time of writing, the pair is trading at 0.8205, virtually unchanged on the day.
ECB upcoming meeting on Thursday is absorbing most of market's attention, keeping investors cautious and sidelined.
AUD/USD technical levels
As for technical levels, immediate resistances for AUD/USD line up at 0.8217 (daily high), 0.8255 (Jan 16 high) and 0.8294 (Jan 15 high). On the other hand, supports are seen at 0.8159 (daily low), 0.8132 (Jan 15 low) and 0.8100 (psychological level).
AUD/USD failed to benefit from better-than-expected Chinese economic growth in the final quarter of 2014 as any optimism over China quickly faded after the IMF downgraded its global growth expectations.
AUD/USD weakened and dropped to a low of 0.8159 during the Asian trade but eventually found buyers, took back losses and climbed to a daily high of 0.8217. At time of writing, the pair is trading at 0.8205, virtually unchanged on the day.
ECB upcoming meeting on Thursday is absorbing most of market's attention, keeping investors cautious and sidelined.
AUD/USD technical levels
As for technical levels, immediate resistances for AUD/USD line up at 0.8217 (daily high), 0.8255 (Jan 16 high) and 0.8294 (Jan 15 high). On the other hand, supports are seen at 0.8159 (daily low), 0.8132 (Jan 15 low) and 0.8100 (psychological level).