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26 Jan 2015
AUD/USD hovers close to fresh 5-1/2 yr lows
FXStreet (Mumbai) - AUD/USD fell to its lowest in more than five years, breaking below the 0.79 threshold on increasing bets that the Reserve Bank of Australia (RBA) may slash interest rates even further this year as declining price pressures continue to weigh on the Aussie.
Currently, the AUD/USD traded at 0.7878 levels, down -0.38% on the day, pulling away from fresh five and a half year lows posted at 0.7859 levels earlier in the session. The Aussie pair extended losses as diverging policy outlooks of the US Federal Reserve (Fed) and the RBA placed greater strength on the greenback.
Moreover, falling oil and industrial metals prices continued to exert additional pressure on the commodity currency.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7906 levels, above which gains could be extended to 0.7940 levels. On the flip side, support is seen at 0.7859 from here it to 0.7820 levels.
Currently, the AUD/USD traded at 0.7878 levels, down -0.38% on the day, pulling away from fresh five and a half year lows posted at 0.7859 levels earlier in the session. The Aussie pair extended losses as diverging policy outlooks of the US Federal Reserve (Fed) and the RBA placed greater strength on the greenback.
Moreover, falling oil and industrial metals prices continued to exert additional pressure on the commodity currency.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7906 levels, above which gains could be extended to 0.7940 levels. On the flip side, support is seen at 0.7859 from here it to 0.7820 levels.