16 Jan 2015
AUD/USD drops back below 0.8200
FXStreet (Córdoba) - AUD/USD fell back below 0.8200 during the New York session as the greenback continues to build gains despite US data coming in on the soft side.
US CPI fell 0.4% in December, posting the biggest monthly drop in 6 years, while industrial production declined 0.1% versus a flat reading expected and down from +1.3% the previous month.
However, safety plays continue to benefit the greenback in detriment of commodity currencies, after SNB shock sparked caution across markets.
AUD/USD was rejected by the 0.8255 zone during the Asian session, and it has been slowly inching lower, dipping below 0.8200 to hit a fresh daily low of 0.8175, before the 100-hour SMA offered support. At time of writing, the Australian dollar is trading at 0.8185, recording a 0.34% loss on the day.
US CPI fell 0.4% in December, posting the biggest monthly drop in 6 years, while industrial production declined 0.1% versus a flat reading expected and down from +1.3% the previous month.
However, safety plays continue to benefit the greenback in detriment of commodity currencies, after SNB shock sparked caution across markets.
AUD/USD was rejected by the 0.8255 zone during the Asian session, and it has been slowly inching lower, dipping below 0.8200 to hit a fresh daily low of 0.8175, before the 100-hour SMA offered support. At time of writing, the Australian dollar is trading at 0.8185, recording a 0.34% loss on the day.