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AUD/USD firmer, looks to regain 0.7700

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Aussie dollar is gathering further traction today, now lifting AUD/USD to test fresh highs in the 0.7700 neighbourhood.

    AUD/USD boosted by data

    Auspicious results from the labour market in Oz during March plus recent positive news from the Chinese economy have lent extra wings to AUD, helping spot to regain the 0.7700 mark and beyond.

    Ahead in the day, US CPI figures are taking centre stage today seconded by Initial Claims, while the RBA’s Financial Stability Review and Chinese Q1 GDP figures will be in the limelight early on Friday.

    AUD/USD levels to watch

    At the moment the pair is advancing 0.56% at 0.7696 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 0.7599 (20-day sma) ahead of 0.7511 (23.6% Fibo of 0.6824-0.7723) and then 0.7475 (low Mar.24).
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