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30 Dec 2014
AUD/USD steadies above 5-DMA
FXStreet (Mumbai) - The Aussie shaved off the People’s Bank of China (PBoC) induced gains and trades almost unchanged as the US dollar marched higher to reach multi-year highs.
Currently, the AUD/USD pair traded flat at 0.8128 levels, trading close to intraday low levels of 0.8122 hit some time ago. The Aussie erased gains against the greenback from the previous session after the PBoC expanded liquidity to boost the lending capacity of Chinese banks. The slump in oil prices to fresh five and a half year lows also added to the weakness in the AUD/USD pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8164 (Dec 29 High) levels, above which gains could be extended to 0.8195 (Dec 19 High) levels. On the flip side, support is seen at 0.8122 (5-DMA) levels, from here it to 0.8104 (Dec 17 Low) levels.
Currently, the AUD/USD pair traded flat at 0.8128 levels, trading close to intraday low levels of 0.8122 hit some time ago. The Aussie erased gains against the greenback from the previous session after the PBoC expanded liquidity to boost the lending capacity of Chinese banks. The slump in oil prices to fresh five and a half year lows also added to the weakness in the AUD/USD pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8164 (Dec 29 High) levels, above which gains could be extended to 0.8195 (Dec 19 High) levels. On the flip side, support is seen at 0.8122 (5-DMA) levels, from here it to 0.8104 (Dec 17 Low) levels.