25 Mar 2015
AUD/USD bounces in an attempt to 0.79
FXStreet (Mumbai) - AUD/USD edged slightly higher in the mid-Asian session, crawling towards 0.79 barrier, as broadly weaker US dollar supports the Aussie while RBA’s Financial Stability Review (FSR) had little impact on AUD/USD.
AUD/USD supported above 0.7860
Currently, the AUD/USD trades marginally higher by 0.09% at 0.7886 levels, having posted fresh session highs at 0.7891 levels some minutes ago. The Aussie turned in green and remained near highs amid a softer greenback across the board and also weakness in its OZ neighbour on downbeat NZ trade surplus data restricting the upside.
Overall, the Aussie is expected to remain elevated in the day ahead until 5-DMA support located at 0.7840 levels is breached. However, a better than expected US consumer durable goods orders figures may boost the US dollar, dragging AUD/USD lower.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7891 (Today’s High) levels, above which gains could be extended to 0.7940 levels. On the flip side, support is seen at 0.7840 (5-DMA) levels from here it to 0.7800 levels.
AUD/USD supported above 0.7860
Currently, the AUD/USD trades marginally higher by 0.09% at 0.7886 levels, having posted fresh session highs at 0.7891 levels some minutes ago. The Aussie turned in green and remained near highs amid a softer greenback across the board and also weakness in its OZ neighbour on downbeat NZ trade surplus data restricting the upside.
Overall, the Aussie is expected to remain elevated in the day ahead until 5-DMA support located at 0.7840 levels is breached. However, a better than expected US consumer durable goods orders figures may boost the US dollar, dragging AUD/USD lower.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7891 (Today’s High) levels, above which gains could be extended to 0.7940 levels. On the flip side, support is seen at 0.7840 (5-DMA) levels from here it to 0.7800 levels.