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29 Dec 2014
AUD/USD stuck between 5-DMA and 10-DMA
FXStreet (Mumbai) - The AUD/USD pair trades at a four-day high; largely been stuck between the 5-DMA and the 10-DMA located at 0.8115 and 0.8135 levels.
The pair currently trades 0.10% higher for the day at 0.8134. The broader gains in the Aussie are being capped since the collapse of Oil and Commodity prices, stoking speculation the Reserve Bank of Australia may cut interest rates. On the other hand, a strong US third quarter GDP report has increased the yield advantage in favor of the US dollar.
AUD/USD Technical Levels
The pair has an immediate resistance located at 0.8135 (10-DMA), above which another resistance is seen at 0.8146. Meanwhile, support is located at 0.8115 (5-DMA) and 0.8103 levels.
The pair currently trades 0.10% higher for the day at 0.8134. The broader gains in the Aussie are being capped since the collapse of Oil and Commodity prices, stoking speculation the Reserve Bank of Australia may cut interest rates. On the other hand, a strong US third quarter GDP report has increased the yield advantage in favor of the US dollar.
AUD/USD Technical Levels
The pair has an immediate resistance located at 0.8135 (10-DMA), above which another resistance is seen at 0.8146. Meanwhile, support is located at 0.8115 (5-DMA) and 0.8103 levels.