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15 Dec 2014
AUD/USD recovers from 4-year low
FXStreet (Mumbai) - The Aussie recovers from fresh four-year low of 0.8205 levels against the US dollar, snapping three consecutive days of losses today.
The AUD/USD pair trades now at 0.8268 levels, up 0.26% on the day. The AUD/USD pair swung between gains and losses today as markets tracked the news about a cafe hostage possibly by few Islamists amid downbeat budget and labour market estimates by the government's Mid-Year Economic and Fiscal Outlook (MYEFO). Although the hostage news did little to move the currency, rebound in oil and base metal prices supported the recovery seen in the Australian dollar.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8285 (100-day SMA) levels, above which gains could be extended to 0.8318 (200-day SMA) levels. On the flip side, support is seen at 0.8237 (10-day SMA), from here it to 0.8205 levels.
The AUD/USD pair trades now at 0.8268 levels, up 0.26% on the day. The AUD/USD pair swung between gains and losses today as markets tracked the news about a cafe hostage possibly by few Islamists amid downbeat budget and labour market estimates by the government's Mid-Year Economic and Fiscal Outlook (MYEFO). Although the hostage news did little to move the currency, rebound in oil and base metal prices supported the recovery seen in the Australian dollar.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8285 (100-day SMA) levels, above which gains could be extended to 0.8318 (200-day SMA) levels. On the flip side, support is seen at 0.8237 (10-day SMA), from here it to 0.8205 levels.