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by ForexNewsNow Team on December 22nd, 2010

Aussie falls against greenback just as it nears parity

Aussie dollarNEW YORK (Forex News Now) – The Aussie dollar fell against the greenback on Wednesday as it again came close to achieving parity.

In late Asian currency market trading, AUD/USD hit 0.9971 at around 8:00 A.M., GMT, a fall of 0.08% on the day.

Currency markets were quiet ahead of the Christmas holiday period, according to online FX trading analysts, who say that only the release of New Zealand’s gross domestic product figures later in the day might present some data risk for the Australian dollar for the rest of the week.

According to AUD/USD analysis, the Aussie was likely to touch key support around yesterday’s low of 0.9917, and to encounter resistance around the Dec. 14 high of 1.0028.

The Aussie’s fall also came as FX traders awaited the release of quarterly US GDP figures later Wednesday.

Elsewhere, the Aussie also slid against the yen: AUD/JPY traded at 83.47, down 0.11% on the day.

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