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26 Feb 2015
AUD/USD hovers near lows on dismal Aus data
FXStreet (Mumbai) - ">AUD/USD slipped in the Asian session, giving away gains from the previous session, after the nation’s investment levels dropped sharply in Q4 2014.
AUD/USD faces resistance at 0.7855 levels
Currently, the AUD/USD trades lower by -0.46% at 0.7851 levels, having posted fresh session lows at 0.7843 levels shortly after the data release. AUD/USD moved away from fresh four week highs reached above 0.79 barrier in the previous session and fell this morning largely on the back of a sharper-than-expected decline in private capital expenditure in Australia in the last quarter.
Private capital expenditure fell a seasonally-adjusted 2.2% in QA 2014 after rising a revised 0.6% previously, coming in weaker than the market forecast of a 1.7% slide in investment.
Meanwhile, higher precious metal prices seems to have failed to cushion the losses in the Aussie as markets now turn their attention towards a host of key US economic releases later today for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7907 levels, above which gains could be extended to 0.7946 (50-DMA) levels. On the flip side, support is seen at 0.7843 (5-DMA) from here it to 0.7826 (10-DMA) levels.
AUD/USD faces resistance at 0.7855 levels
Currently, the AUD/USD trades lower by -0.46% at 0.7851 levels, having posted fresh session lows at 0.7843 levels shortly after the data release. AUD/USD moved away from fresh four week highs reached above 0.79 barrier in the previous session and fell this morning largely on the back of a sharper-than-expected decline in private capital expenditure in Australia in the last quarter.
Private capital expenditure fell a seasonally-adjusted 2.2% in QA 2014 after rising a revised 0.6% previously, coming in weaker than the market forecast of a 1.7% slide in investment.
Meanwhile, higher precious metal prices seems to have failed to cushion the losses in the Aussie as markets now turn their attention towards a host of key US economic releases later today for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7907 levels, above which gains could be extended to 0.7946 (50-DMA) levels. On the flip side, support is seen at 0.7843 (5-DMA) from here it to 0.7826 (10-DMA) levels.