16 Jan 2014
AUD/USD takes a breather below 0.8800
FXstreet.com (Córdoba) - After dropping more than 140 pips in the wake of sour Australian jobs data, the AUD/USD managed to pare losses and steadied just below the 0.8800 mark.
AUD/USD hits 3 ½-year low
The AUD/USD slumped and broke below the 0.8800 mark, making its third day in a row losing a psychological level, after hitting a 1-month high of 0.9085 on Monday. As the pair failed to sustain post-NFP gains, it entered a downward path that has led the Aussie to a fresh low 3 ½-year of 0.8775 Thursday.
AUD/USD outlook
"We don't expect the RBA to continue to cut rates but to merely maintain a dovish bias and to verbally intervene on the AUD behalf", said Ipek Ozkardeskaya, analyst at Swissquote Bank SA. "Efforts that should continue to put pressure on the AUDUSD in the near term".
AUD/USD technical levels
As for technical levels, the AUD/USD could find next supports at 0.8775 (Jan 16 low), 0.8770 (Aug 25 2010 low), 0.8737 (Jul 22 2010 low). On the other hand, resistances are seen at 0.8820 (Dec 18 low), 0.8864 (Jan 9 low), 0.8900 (psychological level) and 0.8915 (21-day SMA).
AUD/USD hits 3 ½-year low
The AUD/USD slumped and broke below the 0.8800 mark, making its third day in a row losing a psychological level, after hitting a 1-month high of 0.9085 on Monday. As the pair failed to sustain post-NFP gains, it entered a downward path that has led the Aussie to a fresh low 3 ½-year of 0.8775 Thursday.
AUD/USD outlook
"We don't expect the RBA to continue to cut rates but to merely maintain a dovish bias and to verbally intervene on the AUD behalf", said Ipek Ozkardeskaya, analyst at Swissquote Bank SA. "Efforts that should continue to put pressure on the AUDUSD in the near term".
AUD/USD technical levels
As for technical levels, the AUD/USD could find next supports at 0.8775 (Jan 16 low), 0.8770 (Aug 25 2010 low), 0.8737 (Jul 22 2010 low). On the other hand, resistances are seen at 0.8820 (Dec 18 low), 0.8864 (Jan 9 low), 0.8900 (psychological level) and 0.8915 (21-day SMA).