23 Mar 2015
AUD/USD attempts a bounce to 0.7800
FXStreet (Mumbai) - AUD/USD extends its uptrend from the previous session, attempting another run for 0.78, as the Australian dollar stands resilient to a broad based US dollar recovery.
AUD/USD supported above 50-DMA
Currently, the AUD/USD trades higher by 0.20% at 0.7790 levels, moving away from session lows previously posted at 0.7768 levels. The Aussie climbs higher mainly driven by technical buying after AUD/USD bounced-off strong support at 50-DMA located around 0.7770 levels.
However, the upside in the Aussie is expected to be limited on the back of a broadly stronger US dollar, correcting FOMC back heavy losses witnessed last week.
Meanwhile, the pair is likely to be influenced by dollar moves as the AUD calendar remains dry for the Aussie in the week ahead.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7805 (Today’s High) levels, above which gains could be extended to 0.7845 levels. On the flip side, support is seen at 0.7770 (50-DMA) levels from here it to 0.7750 levels.
AUD/USD supported above 50-DMA
Currently, the AUD/USD trades higher by 0.20% at 0.7790 levels, moving away from session lows previously posted at 0.7768 levels. The Aussie climbs higher mainly driven by technical buying after AUD/USD bounced-off strong support at 50-DMA located around 0.7770 levels.
However, the upside in the Aussie is expected to be limited on the back of a broadly stronger US dollar, correcting FOMC back heavy losses witnessed last week.
Meanwhile, the pair is likely to be influenced by dollar moves as the AUD calendar remains dry for the Aussie in the week ahead.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7805 (Today’s High) levels, above which gains could be extended to 0.7845 levels. On the flip side, support is seen at 0.7770 (50-DMA) levels from here it to 0.7750 levels.