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AUD/USD firmer, clinches highs near 0.7640

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The Aussie dollar has recovered the smile today, now sending AUD/USD to the area of daily tops near 0.7640.

    AUD/USD higher on USD-selling

    The selling pressure keeps hurting the greenback this week, today’s accelerated after yesterday’s neutral tone from the FOMC minutes. The pair has thus regained the 0.7600 handle and trading in 3-day tops near 0.7640 early in the European session and bolstered by the emergence of some risk-on bias.

    Nothing in terms of events in Oz, while the usual weekly report on the labour market and the speech by Chairwoman Yellen are only due in the US calendar.

    AUD/USD levels to watch

    At the moment the pair is gaining 0.42% at 0.7629 facing the next resistance at 0.7723 (2016 high Mar.31) followed by 0.7739 (monthly high Jul.1 2015) and finally 0.7851 (monthly high Jun.18 2015). On the other hand, a breakdown of 0.7511 (23.6% Fibo of 0.6824-0.7723) would aim for 0.7475 (low Mar.24) and then 0.7325 (55-day sma).
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