6 Apr 2015
AUD/USD testing lows near 0.7620, RBA eyed
FXStreet (Mumbai) - AUD/USD kicked-off the week on a its bearish note amid a quiet Asian session, snapped a brief recovery seen in the last US session, as markets remain cautious ahead of RBA’s policy decision due tomorrow.
AUD/USD trades around 5-DMA
Currently, the AUD/USD trades lower by -0.22%% at 0.7619, retreating from day’s high at 0.7647 and hovering near lows at 0.7610. AUD/USD fell back in red and resumed its downside momentum as traders sold-off the Aussie in anticipation of RBA’s likely rate cut at its policy meeting due tomorrow. However, higher gold prices cushioned the downside in AUD/USD.
The AUD/USD pair recovered from new cyclical lows and edged higher on Friday after worse-than expected US non-farm payrolls data triggered a broad USD sell-off, boosting the Aussie.
Meanwhile, in absence of significant economic data for the rest of day, markets now await Tuesday’s key RBA rate decision for further impact on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7647 levels, above which gains could be extended to 0.7692 levels. On the flip side, support is seen at 0.7600 levels from here it to 0.7560 levels.
AUD/USD trades around 5-DMA
Currently, the AUD/USD trades lower by -0.22%% at 0.7619, retreating from day’s high at 0.7647 and hovering near lows at 0.7610. AUD/USD fell back in red and resumed its downside momentum as traders sold-off the Aussie in anticipation of RBA’s likely rate cut at its policy meeting due tomorrow. However, higher gold prices cushioned the downside in AUD/USD.
The AUD/USD pair recovered from new cyclical lows and edged higher on Friday after worse-than expected US non-farm payrolls data triggered a broad USD sell-off, boosting the Aussie.
Meanwhile, in absence of significant economic data for the rest of day, markets now await Tuesday’s key RBA rate decision for further impact on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7647 levels, above which gains could be extended to 0.7692 levels. On the flip side, support is seen at 0.7600 levels from here it to 0.7560 levels.