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AUD/USD buoyant above 0.7700

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Aussie dollar keeps the bid tone at the end of the week, with AUD/USD navigating at shouting distance from yesterday’s 2016 tops near 0.7740.

    AUD/USD upbeat on RBA, China data

    It seems the pair has recovered the upside momentum this week, clinching fresh YTD peaks near 0.7740 on Thursday and managing so far to keep the trade above the 0.7700 handle.

    Positive Chinese releases throughout the week plus solid results from the labour market in Oz have lent extra support to AUD, today’s also bolstered after the RBA Financial Stability Review has ruled out concerns over Australian banks and their exposure to the housing sector and NZ dairy.

    AUD/USD levels to watch

    At the moment the pair is advancing 0.34% at 0.7719 and a surpass of 0.7737 (2016 high Apr.14) would expose 0.7739 (monthly high Jul.1 2015) and finally 0.7851 (monthly high Jun.18 2015). On the flip side, the next support aligns at 0.7605 (20-day sma) ahead of 0.7522 (23.6% Fibo of 0.6824-0.7737) and then 0.7475 (low Mar.24).
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