AUD/USD finds support above 0.8350

FXStreet (Córdoba) - AUD/USD bottomed at 0.8354 during the European session reaching the lowest price since July 6, 2010. The area above 0.8350 capped the downside. During the last hours the pair remained steady, moving in a small range, between 0.8375 and daily lows.

Currently trades at 0.8374, down 0.33% so far, headed toward the third daily decline in a row, holding a bearish tone in every time frame perspective.

AUD/USD technical levels

According to Luc Luyet, analyst at Swissquote Bank SA, the pair remains under persistent selling pressures. “Hourly resistances can now be found at 0.8467 (03/12/2014 high) and 0.8543 (02/12/2014 high). A support stands at 0.8316 (01/07/2010 low).”