15 Jun 2015
AUD/USD rejected at 0.7750, traders await RBA comments
FXStreet (Mumbai) - The Aussie had begun the week on a positive note, taking the AUD/USD pair to a high of 0.7750, before turning lower to trade at 0.7715 as traders await a speech from the Reserve Bank of Australia (RBA) assistant governor Kent.
USD heavy tone?
The greenback fell against major currencies last week, pushing the AUD/USD pair higher by 1.5%. Analysts at BBH believe the RBA minutes due for release on Tuesday, will be dovish, compared to the Fed that is still planning on moving in the opposite direction.
Ahead in the day, traders shall keep an eye on RBA’s Kent’s speech. The USD industrial production data could also influence the pair. Meanwhile, more worries about Greece after the failure of overnight talks could weigh over the Aussie.
AUD/USD Technical Levels
The immediate support is seen at 0.7677, under which the pair could target 0.7634. On the flip side, a break above 0.7721 (100-MA), could drive the pair higher to 0.7783.
USD heavy tone?
The greenback fell against major currencies last week, pushing the AUD/USD pair higher by 1.5%. Analysts at BBH believe the RBA minutes due for release on Tuesday, will be dovish, compared to the Fed that is still planning on moving in the opposite direction.
Ahead in the day, traders shall keep an eye on RBA’s Kent’s speech. The USD industrial production data could also influence the pair. Meanwhile, more worries about Greece after the failure of overnight talks could weigh over the Aussie.
AUD/USD Technical Levels
The immediate support is seen at 0.7677, under which the pair could target 0.7634. On the flip side, a break above 0.7721 (100-MA), could drive the pair higher to 0.7783.