23 Mar 2015
AUD/USD back below 0.78
FXStreet (Mumbai) - AUD/USD shaved-off previous gains and traded almost unchanged during the European session, as traders continue to assess the new outlook from policymakers in the world's largest economy – US.
AUD/USD drops from 0.7834
Currently, the AUD/USD trades flat at 0.7776 levels, retreating from fresh 3-day highs previously posted at 0.7834. The Aussie gave back gains as the US dollar leads on all fronts as a sharp spike replaces a massive sell-off in the greenback seen in the last week.
Moreover, the rally in NZD/USD also fizzled out which boosted the Aussie in the Asian session as the Australian dollar previously mimicked the gains of its Oz neighbour.
Meanwhile, the pair is likely to be influenced by dollar moves as the AUD calendar remains dry for the Aussie in the week ahead. Also, a host of US policymakers are scheduled to speak this week including Loretta Mester, John Williams, Stanley Fischer, Charles Evans, Dennis Lockhart and last but not least Fed Chair Janet Yellen, which are likely to provide fresh cues on the Fed’s future monetary policy course.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7834 (Today’s High) levels, above which gains could be extended to 0.7845 levels. On the flip side, support is seen at 0.7763 levels from here it to 0.7710 (50-DMA) levels.
AUD/USD drops from 0.7834
Currently, the AUD/USD trades flat at 0.7776 levels, retreating from fresh 3-day highs previously posted at 0.7834. The Aussie gave back gains as the US dollar leads on all fronts as a sharp spike replaces a massive sell-off in the greenback seen in the last week.
Moreover, the rally in NZD/USD also fizzled out which boosted the Aussie in the Asian session as the Australian dollar previously mimicked the gains of its Oz neighbour.
Meanwhile, the pair is likely to be influenced by dollar moves as the AUD calendar remains dry for the Aussie in the week ahead. Also, a host of US policymakers are scheduled to speak this week including Loretta Mester, John Williams, Stanley Fischer, Charles Evans, Dennis Lockhart and last but not least Fed Chair Janet Yellen, which are likely to provide fresh cues on the Fed’s future monetary policy course.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7834 (Today’s High) levels, above which gains could be extended to 0.7845 levels. On the flip side, support is seen at 0.7763 levels from here it to 0.7710 (50-DMA) levels.