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26 Jan 2015
AUD/USD recovers from fresh lows
FXStreet (Córdoba) - After a negative weekly opening and fresh cycle lows, AUD/USD has managed to recover ground and filled a downward gap.
AUD/USD opened the week on the back foot and struck a fresh 5 ½-year low of 0.7857 before finding buyers and bouncing above 0.7900. The pair reached a daily high of 0.7924 so far and it is currently trading at 0.7920, up 0.21% on the day.
The bearish pressure on the Australian dollar has increased over the last days amid growing expectations the RBA will cut rates when it meets next week after the BoC surprise decision to ease last week.
AUD/USD levels to watch
As for technical levels, AUD/USD could find immediate resistances at 0.8000 (psychological level) and 0.8050 (Jan 23 high). On the other hand, supports are seen at 0.7880 (Jan 23 low) and 0.7857 (Jan 26 low) ahead of 0.7814 (Jul 14 2009 low).
AUD/USD opened the week on the back foot and struck a fresh 5 ½-year low of 0.7857 before finding buyers and bouncing above 0.7900. The pair reached a daily high of 0.7924 so far and it is currently trading at 0.7920, up 0.21% on the day.
The bearish pressure on the Australian dollar has increased over the last days amid growing expectations the RBA will cut rates when it meets next week after the BoC surprise decision to ease last week.
AUD/USD levels to watch
As for technical levels, AUD/USD could find immediate resistances at 0.8000 (psychological level) and 0.8050 (Jan 23 high). On the other hand, supports are seen at 0.7880 (Jan 23 low) and 0.7857 (Jan 26 low) ahead of 0.7814 (Jul 14 2009 low).