21 Jan 2015
AUD/USD on its way to 0.8200
FXStreet (Mumbai) - The Aussie bounced-back against the US counterpart in the Asian morning, snapping two back-to-back sessions of losses as consumer sentiments improved in Australia.
Currently, the AUD/USD traded at fresh daily highs at 0.8197 levels, up 0.33% on the day, having hit day’s low at 0.8156 levels earlier in the session. The AUD/USD reversed previous losses and edged higher supported by an upbeat Consumer Sentiment index, which rose 2.4% to 93.2 in January from 91.1 a month earlier. Moreover, higher precious metals prices coupled with some recovery seen in oil prices are also likely to have support the Aussie.
Meanwhile, the markets seemed to turn their focus on the Australian Inflation expectations numbers and the European Central Bank (ECB) upcoming meeting tomorrow for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8220 levels, above which gains could be extended to 0.8255 levels. On the flip side, support is seen at 0.8156 from here it to 0.8130 levels.
Currently, the AUD/USD traded at fresh daily highs at 0.8197 levels, up 0.33% on the day, having hit day’s low at 0.8156 levels earlier in the session. The AUD/USD reversed previous losses and edged higher supported by an upbeat Consumer Sentiment index, which rose 2.4% to 93.2 in January from 91.1 a month earlier. Moreover, higher precious metals prices coupled with some recovery seen in oil prices are also likely to have support the Aussie.
Meanwhile, the markets seemed to turn their focus on the Australian Inflation expectations numbers and the European Central Bank (ECB) upcoming meeting tomorrow for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8220 levels, above which gains could be extended to 0.8255 levels. On the flip side, support is seen at 0.8156 from here it to 0.8130 levels.