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24 Dec 2014
AUD/USD moves away from 5-year lows
FXStreet (Mumbai) - The Aussie recovered versus the US dollar today, bouncing-back from five year low levels reached in the previous session.
Currently, the AUD/USD pair traded at 0.8118 levels, up 0.20% on the day, after reaching fresh five-year lows of 0.8084 levels in the overnight US trading. The Aussie tumbled against the greenback as the stronger-than-expected US 3Q GDP estimate boosted the US dollar. The currency pair remains slightly elevated today on the back of recovery in commodities prices. Investors are largely refraining from making significant moves ahead of a long weekend.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8146 (Dec 23 High) levels, above which gains could be extended to 0.8176 (Dec 22 High) levels. On the flip side, support is seen at 0.8104 (Dec 17 Low) levels, from here it to 0.8080 levels.
Currently, the AUD/USD pair traded at 0.8118 levels, up 0.20% on the day, after reaching fresh five-year lows of 0.8084 levels in the overnight US trading. The Aussie tumbled against the greenback as the stronger-than-expected US 3Q GDP estimate boosted the US dollar. The currency pair remains slightly elevated today on the back of recovery in commodities prices. Investors are largely refraining from making significant moves ahead of a long weekend.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8146 (Dec 23 High) levels, above which gains could be extended to 0.8176 (Dec 22 High) levels. On the flip side, support is seen at 0.8104 (Dec 17 Low) levels, from here it to 0.8080 levels.