Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar reversed its latest losses against the greenback and advanced recovered the 0.7600 level. Key Quotes: "Buoyed during the previous Asian session on optimistic remarks from RBA governor Glenn Stevens, who offered quite an optimistic outlook of the local economy. A deep down to 0.7550 early Europe resulted in a quick, sharp bounce, indicating that buying the dips is still the way to go with the AUD/USD pair. The short term picture for the pair is bullish, as in the 1 hour chart, the price is currently developing above a bullish 20 SMA, while the technical indicators are within positive territory, but lacking directional strength." For more information, read our latest forex news.