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15 Dec 2014
AUD/USD testing lower levels again on 0.82 handle
FXStreet (Guatemala) - Having made a daily high at 0.8257 and low at 0.8204, AUD/USD spot is down -0.43% on the day and presently trading at 0.8216.
AUD/USD has risen up on the 0.82 handle and is testing the 0.8220 resistance at time of writing. The pair has started to recover from the initial supply but remains in a bearish trend formed when 0.8540 support finally gave way.
Jim Langland, analyst at FX Charts, explained in respect to the downside, “Look for a run towards 0.8200 and below there, a possible acceleration to the downside, with a wave equality target at 0.8145 (AB=CD; from 0.9398 to 0.8642, from 0.8901; being the first realistic support, beneath which there is little to hold the Aud up until the May 2010 lows at 0.8066”.
AUD/USD has risen up on the 0.82 handle and is testing the 0.8220 resistance at time of writing. The pair has started to recover from the initial supply but remains in a bearish trend formed when 0.8540 support finally gave way.
Jim Langland, analyst at FX Charts, explained in respect to the downside, “Look for a run towards 0.8200 and below there, a possible acceleration to the downside, with a wave equality target at 0.8145 (AB=CD; from 0.9398 to 0.8642, from 0.8901; being the first realistic support, beneath which there is little to hold the Aud up until the May 2010 lows at 0.8066”.