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5 Dec 2014
AUD/USD trades close to 4-1/2 year low
FXStreet (Munbai) - The Australian dollar gave up overnight gains and trades close to 4-1/2 year low as US dollar regained strength across all major currencies.
The so-called Aussie is trading at 0.8375 levels, down -0.06% from yesterday’s close of 0.8383. The AUD/USD pair slid as the AIG Construction Index fell to a 10-month low of 45.4 in November from 53.4 a month earlier, breaking through the 50 mark which separates a contraction from an expansion for the first time since March. The pair is also likely to be weighed down by forecasts of an upbeat US employment figures.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.84 levels, above which gains could be extended to 0.8431 (Dec 4 High) levels. On the flip side, support is seen at 0.8353 (Dec 4 Low), below which it could extend losses to 0.8314 (July 2010 Low) levels.
The so-called Aussie is trading at 0.8375 levels, down -0.06% from yesterday’s close of 0.8383. The AUD/USD pair slid as the AIG Construction Index fell to a 10-month low of 45.4 in November from 53.4 a month earlier, breaking through the 50 mark which separates a contraction from an expansion for the first time since March. The pair is also likely to be weighed down by forecasts of an upbeat US employment figures.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.84 levels, above which gains could be extended to 0.8431 (Dec 4 High) levels. On the flip side, support is seen at 0.8353 (Dec 4 Low), below which it could extend losses to 0.8314 (July 2010 Low) levels.