9 Mar 2015
AUD/USD turns positive
FXStreet (Mumbai) - The US dollar is witnessing selling pressure across the board, which helped the AUD/USD pair rise from the low of 0.7682 to trade at 0.7726 levels.
AUD recovers from six-year lows
The AUD/USD fell below 0.77 for the fourth time this year after the monthly jobs data in the US smashed the estimates on Friday. At one point today, the pair touched 0.7682. Its lowest level so far in 2015 is 0.7626. Moreover, the USD strengthened as Speculation is mounting that the Fed will remove the word "patience" from its forward guidance on interest rate hikes, making a way for a possible interest rate hike from April meeting.
The recovery seen in the early European session is largely a technical drive amid an absence of a major fundamental trigger.
AUD/USD Technical Levels
The pair currently trades 0.05% higher at 0.7726. The immediate resistance is seen at 0.7752 (5-DMA), above which gains could be extended to 0.7800 levels. On the other hand, a break below 0.7682 could drive the pair lower to 2015 low of 0.7626.
AUD recovers from six-year lows
The AUD/USD fell below 0.77 for the fourth time this year after the monthly jobs data in the US smashed the estimates on Friday. At one point today, the pair touched 0.7682. Its lowest level so far in 2015 is 0.7626. Moreover, the USD strengthened as Speculation is mounting that the Fed will remove the word "patience" from its forward guidance on interest rate hikes, making a way for a possible interest rate hike from April meeting.
The recovery seen in the early European session is largely a technical drive amid an absence of a major fundamental trigger.
AUD/USD Technical Levels
The pair currently trades 0.05% higher at 0.7726. The immediate resistance is seen at 0.7752 (5-DMA), above which gains could be extended to 0.7800 levels. On the other hand, a break below 0.7682 could drive the pair lower to 2015 low of 0.7626.