9 Jan 2015
AUD/USD erases daily gains
FXStreet (Córdoba) - After a short-lived spike witnessed during the Asian session, AUD/USD pulled back and erased most of its intraday gains weighed by soft domestic data and broad USD strength heading into the US nonfarm payrolls.
AUD/USD rose to a daily high of 0.8146 but found resistance at the 20-day SMA and slid back to the 0.8110 zone, erasing gains. At time of writing, the pair is trading at 0.8125, virtually unchanged on the day.
From a wider perspective, AUD/USD has been oscillating within a wide range this week, contained by 0.8032 (4 ½-year low) on the downside and capped by 0.8155 on the upside.
US nonfarm payrolls data is attracting market’s attention, keeping investors on the sidelines. Analysts expect a strong 240,000 job gain for December, but down from the 321,000 positions added in November.
AUD/USD levels to watch
In terms of technical levels, AUD/USD could find immediate supports at 0.8104/00 (daily low/psychological level), 0.8070 (Jan 8 low) and 0.8032 (Jan 7 low) ahead of 0.8000 (psychological level). On the other hand, resistances are seen at 0.8146 (daily high), 0.8157 (Jan 6 high) and 0.8167 (Jan 2 high).
AUD/USD rose to a daily high of 0.8146 but found resistance at the 20-day SMA and slid back to the 0.8110 zone, erasing gains. At time of writing, the pair is trading at 0.8125, virtually unchanged on the day.
From a wider perspective, AUD/USD has been oscillating within a wide range this week, contained by 0.8032 (4 ½-year low) on the downside and capped by 0.8155 on the upside.
US nonfarm payrolls data is attracting market’s attention, keeping investors on the sidelines. Analysts expect a strong 240,000 job gain for December, but down from the 321,000 positions added in November.
AUD/USD levels to watch
In terms of technical levels, AUD/USD could find immediate supports at 0.8104/00 (daily low/psychological level), 0.8070 (Jan 8 low) and 0.8032 (Jan 7 low) ahead of 0.8000 (psychological level). On the other hand, resistances are seen at 0.8146 (daily high), 0.8157 (Jan 6 high) and 0.8167 (Jan 2 high).