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AUD/USD recovers ground but stalls ahead of 0.7600

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    AUD/USD has climbed to fresh daily highs at the beginning of the New York session as the greenback lost steam across the board.

    AUD/USD pushed a tad higher and reached a peak of 0.7578 before steadying in a range just below as investors await the release of FOMC latest meeting minutes at 18:00 GMT. At time of writing, AUD/USD is trading at 0.7575, up 0.45% on Wednesday, following two consecutive days of losses.

    AUD/USD technical levels

    In terms of technical levels, AUD/USD could find immediate resistances at 0.7630 (Apr 5 high), 0.7678 (Apr 4 high) and 0.7720 (Mar 31 high). On the flip side, supports are seen at 0.7509 (Apr 5 low), 0.7476 (Mar 24 low) and 0.7414 (Mar 16 low).
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