Back
5 Dec 2014
AUD/USD: bearish but ranged bound below key resistance 0.8420
FXStreet (Guatemala) - AUD/USD is trading at 0.8382, down -0.02% on the day, having posted a daily high at 0.8391 and low at 0.8380.
AUD/USD is trading below the 0.84 handle as we approach the final trading sessions of the week. The pair has been up to test the 0.8420 resistance on an extension of the upside building from the lows of 0.8360 in early European trade but supply was strong with decent offers coming in progressively lower since yesterday.
The day was calmer in the commodity sector and the focus was centered on the ECB instead. It seems like the Aussie will go without demand in extra investors liquidity from the ECB's action until at least the end of the first quarter 2015 now when ECB may have decided upon their balance sheet and the subsequent moves they may decide to make in respect of QE. We turn our attentions to the nonfarm payrolls now in the US for the end of the week.
AUD/USD downside areas
With the area in the 0.8420’s resistances holding, below spot we have 0.8380 (Daily Low), 0.8372 (Daily Classic S1), 0.8356 (Yesterday's Low), 0.8342 (Weekly Classic S2) and 0.8339 (Daily Classic S2).
AUD/USD is trading below the 0.84 handle as we approach the final trading sessions of the week. The pair has been up to test the 0.8420 resistance on an extension of the upside building from the lows of 0.8360 in early European trade but supply was strong with decent offers coming in progressively lower since yesterday.
The day was calmer in the commodity sector and the focus was centered on the ECB instead. It seems like the Aussie will go without demand in extra investors liquidity from the ECB's action until at least the end of the first quarter 2015 now when ECB may have decided upon their balance sheet and the subsequent moves they may decide to make in respect of QE. We turn our attentions to the nonfarm payrolls now in the US for the end of the week.
AUD/USD downside areas
With the area in the 0.8420’s resistances holding, below spot we have 0.8380 (Daily Low), 0.8372 (Daily Classic S1), 0.8356 (Yesterday's Low), 0.8342 (Weekly Classic S2) and 0.8339 (Daily Classic S2).