12 May 2015
AUD/USD fails to reach 0.8000 and falls back to 0.7950
FXStreet (Tokyo) - After rallying around 100 pips from 0.7885 in the Asian and European session; the AUD/USD failed to reach the 0.8000 as the pair was sold at 0.7990 and launched back to 0.7950.
Earlier move was supported by broad USD weakness and it got a small boost from Australian budget. However, pair was heavy by the American opening bell. Currently, AUD/USD is trading at 0.7953, up 0.78% on the day, having posted a daily high at 0.7996 and low at 0.7886.
AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
AUD/USD forecast
According to the FXStreet AUD/USD Forecast Poll, "AUD/USD is capped below 0.8000, room to test 0.7500." The sentiment towards the Aussie remains negative in the FXpoll despite latest advance.
Analyst at Admiral Markets Anil Panchal says that the "failure to break 0.8030, coupled with RBA rate cut and weaker labor market details," could make the AUD/USD to "extend declines to 0.7700 horizontal mark."
Australian Dollar to US Dollar levels
As for the short term, if the pair consolidates levels below 0.7950, it will find supports at 0.7920 and 0.7880. To the upside, 0.8000, 0.8030 and 0.8070 are resistances.
Earlier move was supported by broad USD weakness and it got a small boost from Australian budget. However, pair was heavy by the American opening bell. Currently, AUD/USD is trading at 0.7953, up 0.78% on the day, having posted a daily high at 0.7996 and low at 0.7886.
AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
AUD/USD forecast
According to the FXStreet AUD/USD Forecast Poll, "AUD/USD is capped below 0.8000, room to test 0.7500." The sentiment towards the Aussie remains negative in the FXpoll despite latest advance.
Analyst at Admiral Markets Anil Panchal says that the "failure to break 0.8030, coupled with RBA rate cut and weaker labor market details," could make the AUD/USD to "extend declines to 0.7700 horizontal mark."
Australian Dollar to US Dollar levels
As for the short term, if the pair consolidates levels below 0.7950, it will find supports at 0.7920 and 0.7880. To the upside, 0.8000, 0.8030 and 0.8070 are resistances.