25 Mar 2015
AUD/USD remains steady supported at 0.7860
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7871 with a high of 0.7877 and a low of 0.7858.
AUD/USD is silent on the Asian shift still. We have little impetus on the calendar although we recently had the release of the Financial Stability Review report from the Reserve Bank of Australia where the RBA noted that supervision of lending standards should help cool down rising home prices, adding that some banks are likely to have to reduce their lending activity.
Technically, Karen Jones, chief analyst at Commerzbank explained that they look for a slide back towards the two month support line at 0.7539. "Below it lurks the 61.8% Fibonacci retracement of the move up from 2001 at 0.8184. Good resistance comes in between the 0.7845 level and the February high at 0.7912. A daily close above 0.8034 early January low is needed to alleviate downside pressure."
AUD/USD is silent on the Asian shift still. We have little impetus on the calendar although we recently had the release of the Financial Stability Review report from the Reserve Bank of Australia where the RBA noted that supervision of lending standards should help cool down rising home prices, adding that some banks are likely to have to reduce their lending activity.
Technically, Karen Jones, chief analyst at Commerzbank explained that they look for a slide back towards the two month support line at 0.7539. "Below it lurks the 61.8% Fibonacci retracement of the move up from 2001 at 0.8184. Good resistance comes in between the 0.7845 level and the February high at 0.7912. A daily close above 0.8034 early January low is needed to alleviate downside pressure."