Back
31 Dec 2014
AUD/USD breaking key levels; consolidated
FXStreet (Guatemala) - AUD/USD is trading at 0.8184, up 0.05% on the day, having posted a daily high at 0.8191 and low at 0.8175.
AUD/USD remains in a tight range in New Years eve trading and a period of consolidation can now be expected in thin trading ad a lack of impetus until we move over to 2015. When we do, the greenback is sighted to be under demand while the Aussie will be weighed upon on a dovish outlook from the RBA for the year ahead.
For now, the pair is contained by the 38.2% Dec 11 low at 0.8200 but trades above the 200 hr DMA on the break in overall dollar weakness overnight. This is a significant move, albeit in thin trading in thin markets on a spike, but nevertheless, it is a technical level that will likely be paid attention to when markets return properly.
AUD/USD remains in a tight range in New Years eve trading and a period of consolidation can now be expected in thin trading ad a lack of impetus until we move over to 2015. When we do, the greenback is sighted to be under demand while the Aussie will be weighed upon on a dovish outlook from the RBA for the year ahead.
For now, the pair is contained by the 38.2% Dec 11 low at 0.8200 but trades above the 200 hr DMA on the break in overall dollar weakness overnight. This is a significant move, albeit in thin trading in thin markets on a spike, but nevertheless, it is a technical level that will likely be paid attention to when markets return properly.