20 Feb 2015
AUDUSD: Another attempt at 0.7840?
FXStreet (Mumbai) - The AUD/USD rose above 0.78 handle after having bounced-off from the 5-DMA located at 0.7794.
AUD/USD faces resistance at 0.7840
The buying interest in the AUD/USD pair repeatedly saw exhaustion around 0.7840 levels since Feb.9th. The pair could make another attempt to take out resistance at 0.7840 levels amid an empty economic calendar in Australia and lack of fresh cues from China. The Aussie remains supported after the rating agency S&P analysts made it clear that there was no near term risk to Australia’s AAA credit rating. However, the buying interest may once again see exhaustion around 0.7840 as investors turn cautious ahead of the Eurogroup meeting scheduled later today.
AUD/USD Technical Levels
At the moment, the pair is trading 0.21% higher at 0.7808. The immediate resistance is seen at 0.7840, above which gains could be extended to 0.7874 (Feb. 6th high). On the flip side, a break below 0.7794 (5-DMA) could push the pair down to 0.7741 levels.
AUD/USD faces resistance at 0.7840
The buying interest in the AUD/USD pair repeatedly saw exhaustion around 0.7840 levels since Feb.9th. The pair could make another attempt to take out resistance at 0.7840 levels amid an empty economic calendar in Australia and lack of fresh cues from China. The Aussie remains supported after the rating agency S&P analysts made it clear that there was no near term risk to Australia’s AAA credit rating. However, the buying interest may once again see exhaustion around 0.7840 as investors turn cautious ahead of the Eurogroup meeting scheduled later today.
AUD/USD Technical Levels
At the moment, the pair is trading 0.21% higher at 0.7808. The immediate resistance is seen at 0.7840, above which gains could be extended to 0.7874 (Feb. 6th high). On the flip side, a break below 0.7794 (5-DMA) could push the pair down to 0.7741 levels.