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2 Jan 2015
AUD/USD trades near 10-DMA
FXStreet (Mumbai) - The Australian dollar has begun the new year on a weak note; trading lower against the US dollar around the 10-DMA located at 0.8136.
The AUD/USD pair retreated 0.55% today, after having failed to take out 0.82 levels in past three trading sessions. The pair has also breached the 5-DMA located at 0.8158 levels on its way down today. Moreover, the US dollar is showing signs of strength across the board today. The US dollar index is up 0.26% at 90.88 levels. No fresh cues are likely to come through from the Australian stock market, which is trading dead flat. The AUD Commodity index for December due later today may provide fresh fundamental trigger. Until then, the chart driven moves are likely to be seen in the markets.
AUD/USD Technical Levels
The pair has an immediate support located at 0.8107, under which the losses could be extended to 0.8087 levels. Meanwhile, resistance is seen at 0.8158 (5-DMA) and 0.82 levels.
The AUD/USD pair retreated 0.55% today, after having failed to take out 0.82 levels in past three trading sessions. The pair has also breached the 5-DMA located at 0.8158 levels on its way down today. Moreover, the US dollar is showing signs of strength across the board today. The US dollar index is up 0.26% at 90.88 levels. No fresh cues are likely to come through from the Australian stock market, which is trading dead flat. The AUD Commodity index for December due later today may provide fresh fundamental trigger. Until then, the chart driven moves are likely to be seen in the markets.
AUD/USD Technical Levels
The pair has an immediate support located at 0.8107, under which the losses could be extended to 0.8087 levels. Meanwhile, resistance is seen at 0.8158 (5-DMA) and 0.82 levels.