AUD/USD: holding above 0.7900, downside limited
|AUD/USD Current price: 0.7916
The AUD/USD pair recovered most of the ground lost on Thursday and hovers around 0.7920 after bottoming at 0.7869, with the Aussie backed by gold's appreciation amid ongoing risk aversion. Stocks trade with a soft tone, although not far from their daily openings, limiting Aussies gains at the time being. There were no macroeconomic news coming from Australia overnight, and the US has little to offer today beyond the Michigan confidence index. US equities will set the tone for the last day of the week, yet unless fresh headlines affect markets, seems it's going to be a dull end to the week. In the meantime, the 4 hours chart shows that the price holds above a modestly bullish 20 SMA, whilst technical indicators are losing upward strength, but within positive territory, reflecting the limited love the market has for the greenback these days.
Support levels: 0.0.7900 0.7870 0.7830
Resistance levels: 0.7965 0.8000 0.8045
View Live Chart for the AUD/USD
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