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6 Jan 2015
AUD/USD holds above 0.8100
FXStreet (Córdoba) - AUD/USD failed to extend its recovery above 0.8160 and came under mild pressure, surrendering a portion of its intraday gains at the beginning of the New York session.
The Australian dollar has been on recovery mode over the last sessions after hitting a fresh 4 ½-year low Monday, underpinned by rising gold prices. However, AUD/USD lost momentum after reaching a daily high of 0.8157 and pulled back, but the 0.8100 level contained the downside.
At time of writing, the pair is trading at 0.8115, still up 0.41% on the day, with the US Markit services PMI reading having virtually no effect on the greenback. Still on tap, the more important ISM non-manufacturing PMI will be published at 15:00 GMT.
AUD/USD levels to watch
In terms of technical levels, AUD/USD could find immediate supports are seen at 0.8080 (daily low) and 0.8035 (4 ½-year low Jan 5). On the upside, resistances line up at 0.8157 (daily high) and 0.8200 (psychological level).
The Australian dollar has been on recovery mode over the last sessions after hitting a fresh 4 ½-year low Monday, underpinned by rising gold prices. However, AUD/USD lost momentum after reaching a daily high of 0.8157 and pulled back, but the 0.8100 level contained the downside.
At time of writing, the pair is trading at 0.8115, still up 0.41% on the day, with the US Markit services PMI reading having virtually no effect on the greenback. Still on tap, the more important ISM non-manufacturing PMI will be published at 15:00 GMT.
AUD/USD levels to watch
In terms of technical levels, AUD/USD could find immediate supports are seen at 0.8080 (daily low) and 0.8035 (4 ½-year low Jan 5). On the upside, resistances line up at 0.8157 (daily high) and 0.8200 (psychological level).