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AUD/USD advances to highs near 0.7540

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The now offered tone around the greenback is sending AUD/USD to visit daily peaks in the 0.7535/40 band.

    AUD/USD bounces off 0.7500

    The Aussie dollar has found decent support around overnight lows near 0.7500 the figure, advancing to current levels and recovering part of last week’s deep pullback following tops in the vicinity of the 0.7700 handle.

    Markets in Australia remains closed due to Easter Monday holiday, prompting investors to turn their focus on today’s releases in the US calendar: Personal Income/Spending, Pending Home Sales, Goods Trade Balance and inflation figures measured by the PCE.

    AUD/USD levels to watch

    At the moment the pair is up 0.41% at 0.7538 facing the next hurdle at 0.7684 (2016 high Mar.18) ahead of 0.7739 (monthly high Jul.1 2015) and then 0.7851 (monthly high Jun.18 2015). On the other hand, a break below 0.7481 (23.6% Fibo of 0.6824-0.7684) would open the door to 0.7413 (low Mar.16) and finally 0.7236 (200-day sma).
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