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AUD/USD firmer, clinches highs near 0.7680

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The better tone around the risk-associated space is bolstering the upside in AUD/USD to the vicinity of 0.7680 on Tuesday.

    AUD/USD attention to job figures

    Spot is navigating in fresh multi-day highs so far, advancing since Friday after finding decent support in the 0.7500 neighbourhood. Earlier in the session, solid confidence figures in Oz have lent further support to the Aussie dollar, all amidst an increasing selling pressure around the US dollar.

    Ahead in the week, labour market figures in Australia will take centre stage (Thursday), while US Retail Sales (Wednesday) and inflation figures tracked by the CPI (Thursday) will turn the attention to the greenback.

    AUD/USD levels to watch

    At the moment the pair is advancing 0.90% at 0.7663 and a surpass of 0.7723 (2016 high Mar.31) 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 0.7511 (23.6% Fibo of 0.6824-0.7723) ahead of 0.7475 (low Mar.24) and then 0.7366 (55-day sma).
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