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2 Dec 2014
AUD/USD finds support at 0.8430
FXStreet (Edinburgh) - The decline in AUD seems to have found support around 0.8430, with AUD/USD managing to climb back to the mid-0.8400s at the moment.
AUD/USD down from 0.8550
The pair retreated more than a big figure since session tops in the vicinity of 0.8550, after a neutral (repetitive?) tone from the RBA in today’s meeting boosted the demand for the Aussie dollar. The upside was short-lived however, with spot lacking enough conviction to leave behind 0.8550, triggering the current correction against a strong bid tone from the US dollar. The AUD will remain under pressure in light of the Q3 GDP figures in Oz due tomorrow, with consensus pointing to an expansion of 0.7% inter-quarter y 3.1% over the last twelve months.
AUD/USD key levels
At the moment the pair is retreating 0.55% at 0.8455 and a breakdown of 0.8417 (low Dec.1) would aim for 0.8315 (low Jul1.2010) and then 0.8269 (low Jun.10 2010). On the upside, the initial hurdle lines up at 0.8545 (high Nov.28) ahead of 0.8564 (10-d MA) and finally 0.8619 (high Nov.25).
AUD/USD down from 0.8550
The pair retreated more than a big figure since session tops in the vicinity of 0.8550, after a neutral (repetitive?) tone from the RBA in today’s meeting boosted the demand for the Aussie dollar. The upside was short-lived however, with spot lacking enough conviction to leave behind 0.8550, triggering the current correction against a strong bid tone from the US dollar. The AUD will remain under pressure in light of the Q3 GDP figures in Oz due tomorrow, with consensus pointing to an expansion of 0.7% inter-quarter y 3.1% over the last twelve months.
AUD/USD key levels
At the moment the pair is retreating 0.55% at 0.8455 and a breakdown of 0.8417 (low Dec.1) would aim for 0.8315 (low Jul1.2010) and then 0.8269 (low Jun.10 2010). On the upside, the initial hurdle lines up at 0.8545 (high Nov.28) ahead of 0.8564 (10-d MA) and finally 0.8619 (high Nov.25).