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6 Jan 2015
AUD/USD pressing through the 0.8100 support level
FXStreet (Guatemala) - AUD/USD is trading at 0.8091 having made a high at high 0.8101 and a low at 0.8089 on the day so far.
AUD/USD has been a steady and decisive drift back towards the 0.81 handle having posted a weekly high at 0.8160. The pair followed through on the bid when closing the bearish gap with better risk sentiment in the market and investors seeking out the yield. The pair however has met supply and has been testing the handles support at 0.81 the figure.
This is a strong support level although it was broken at the start of the month with full markets back to work when it scored 0.8035 as a low. This bearish gap in the charts demonstrates the intent and outlook in the market for the pair while economic developments in Australia and China will be closely monitored as will the rhetoric from the RBA accordingly. That aside, the markets appetite for the greenback remains constant and strong, weighing on the antipodean.
AUD/USD has been a steady and decisive drift back towards the 0.81 handle having posted a weekly high at 0.8160. The pair followed through on the bid when closing the bearish gap with better risk sentiment in the market and investors seeking out the yield. The pair however has met supply and has been testing the handles support at 0.81 the figure.
This is a strong support level although it was broken at the start of the month with full markets back to work when it scored 0.8035 as a low. This bearish gap in the charts demonstrates the intent and outlook in the market for the pair while economic developments in Australia and China will be closely monitored as will the rhetoric from the RBA accordingly. That aside, the markets appetite for the greenback remains constant and strong, weighing on the antipodean.