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AUD/USD through 0.7600, session tops

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    A continuation of the USD sell-off is lifting AUD/USD to test fresh daily highs beyond the 0.7600 handle.

    AUD/USD stronger on USD-selling

    Spot is accelerating its upside today after the greenback, in terms of the US Dollar Index, has broken below the key support at 94.00 the figure as the selling pressure remains far from abated.

    AUD is following north the rest of its risk-associated peers at the beginning of the week, as the Fed closed meeting fails to lend some support to the greenback.

    Next on tap in Oz will be the key labour market figures during March due on Thursday, whereas speeches by Fed’s Harker, Williams and Lacker will take centre stage tomorrow in the US.

    AUD/USD levels to watch

    At the moment the pair is advancing 0.85% at 0.7620 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 0.7355 (55-day sma).
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