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AUD/USD firmer eyes 0.7800, fresh yearly tops

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Aussie dollar is following the rest of its risk-associated peers on Tuesday, now pushing AUD/USD to the boundaries of the 0.7800 handle.

    AUD/USD boosted by risk appetite

    Spot is trading in levels last seen in June 2015 around 0.7800 the figure, backed by a strong sentiment in the risk-on space along with a renewed offered tone surrounding the US dollar.

    The bid tone in AUD was also supported after the RBA minutes hinted at the fact that the central bank feels quite comfortable with the current level of the domestic key interest rate.

    AUD/USD levels to watch

    At the moment the pair is advancing 0.55% at 0.7792 and a surpass of 0.7851 (monthly high Jun.18 2015) would expose 0.7940 (monthly high Mar.24) and finally 0.8076 (monthly high Apr.29). On the flip side, the next support aligns at 0.7629 (20-day sma) ahead of 0.7488 (low Apr.7) and then 0.7425 (55-day sma).
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