Back
5 Jan 2015
AUD/USD forms a Doji Candle on daily charts
FXStreet (Mumbai) - The AUD/USD recovered from the 5-1/2 year lows of 0.8036 levels, although the pair has so far failed to post gains, thereby forming a Doji Candle on the daily charts.
The pair now trades at 0.8066, compared to the previous session’s close of 0.8068 levels. The Aussie hit a 5-1/2 year low against the Greenback on a broad based US dollar rally. However, the greenback weakened slightly at the onset of the European session today tracking the fall in the US treasury yields, which helped the AUD/USD pair recover losses to trade largely unchanged around the previous session’s closing level of 0.8068.
AUD/USD Technical Levels
The pair has an immediate resistance located at 0.8086 (Dec. 23 low), above which gains could be extended to 0.8113 (5-DMA). Meanwhile, support is seen at 0.8036 and 0.80 levels.
The pair now trades at 0.8066, compared to the previous session’s close of 0.8068 levels. The Aussie hit a 5-1/2 year low against the Greenback on a broad based US dollar rally. However, the greenback weakened slightly at the onset of the European session today tracking the fall in the US treasury yields, which helped the AUD/USD pair recover losses to trade largely unchanged around the previous session’s closing level of 0.8068.
AUD/USD Technical Levels
The pair has an immediate resistance located at 0.8086 (Dec. 23 low), above which gains could be extended to 0.8113 (5-DMA). Meanwhile, support is seen at 0.8036 and 0.80 levels.