8 Apr 2015
AUD/USD attempts a bounce to 0.77
FXStreet (Mumbai) - AUD/USD extends its upward trajectory in the European session, extending gains for the second straight session, largely on a recovery in iron-ore prices amid broad based US dollar weakness.
AUD/USD rises from 0.7655
Currently, the AUD/USD trades at 0.7670, up 0.49 on the day, inching higher towards 0.77 barrier. AUD/USD continues its upside bias as the Aussie remains boosted following the Reserve Bank of Australia's (RBA) decision to stand pat in April.
AUD/USD remains supported also on US dollar weakness across the board as traders booked profit on their USD longs after the recent rally.
Speculation the US Federal Reserve (Fed) will postpone the timing of the first rate hike also adds further support for AUD/USD, while the latest FOMC meeting minutes will be in focus later today.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7706 (20-DMA) levels, above which gains could be extended to 0.7737 (50-DMA) levels. On the flip side, support is seen at 0.7634 (10-DMA) levels from here it to 0.7600 levels.
AUD/USD rises from 0.7655
Currently, the AUD/USD trades at 0.7670, up 0.49 on the day, inching higher towards 0.77 barrier. AUD/USD continues its upside bias as the Aussie remains boosted following the Reserve Bank of Australia's (RBA) decision to stand pat in April.
AUD/USD remains supported also on US dollar weakness across the board as traders booked profit on their USD longs after the recent rally.
Speculation the US Federal Reserve (Fed) will postpone the timing of the first rate hike also adds further support for AUD/USD, while the latest FOMC meeting minutes will be in focus later today.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7706 (20-DMA) levels, above which gains could be extended to 0.7737 (50-DMA) levels. On the flip side, support is seen at 0.7634 (10-DMA) levels from here it to 0.7600 levels.