Technical Analysis – AUDUSD 4-hourly: Near December’s 3-year low – are fresh lows ahead?
Posted on January 8, 2014 at 10:31 am GMT[caption id="attachment_12379" align="alignnone" width="550"] (click to enlarge)[/caption] The Australian dollar was one of the weakest currencies of 2013, dropping 14.2% against its US counterpart. Worries of overvaluation, verbal intervention by the Reserve Bank of Australia to drive the aussie lower and some growth scares out of China, all contributed to push the currency down despite robust economic growth down under. The ausssie made a fresh 3-year low on December 18 at 0.8819. This also represents the pair’s immediate support level, [..]