AUD/USD advances beyond 0.7600

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The generalized risk-on bias is now helping the Aussie dollar to post fresh highs vs. the dollar, with AUD/USD advancing further north of the 0.7600 mark.

    AUD/USD boosted by Fed, mixed Oz data

    Spot is gaining around two cents since yesterday’s lows in the boundaries of 0.7400 the figure, propped up by the dovish views exposed by the Federal Reserve at its meeting yesterday.

    Data wise in Oz, the jobless rate has ticked lower to 5.8% largely due a drop in the participation rate, while the Employment Change has increased less than previously estimated during February.

    AUD/USD levels to watch

    At the moment the pair is gaining 0.76% at 0.7609 facing the next hurdle at 0.7739 (monthly high Jul.1 2015) followed by 0.7851 (monthly high Jun.18 2015) and then 0.7940 (monthly high Mar.24 2015). On the other hand, a breakdown of 0.7415 (low Mar.16) would aim for 0.7355 (20-day sma) and finally 0.7244 (200-day sma).
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