13 May 2015
AUD/USD hits fresh weekly highs above 0.80
FXStreet (Mumbai) - The Australian dollar erased previous losses and extends its bullish momentum for the second straight day versus the US dollar, driving AUD/USD to fresh one-week highs beyond 0.80 mark, largely tracking gains from its OZ neighbour after RBNZ announced new policy measures early today.
AUD/USD back above 0.80
Currently, the AUD/USD pair trades 0.64% higher at 0.8027, hovering close to fresh session highs reached at 0.8033. AUD/USD wiped out China data induced losses and swung back higher above the big 0.80 figure mainly correlating gains for the New Zealand dollar.
The Kiwi rallies nearly 1% this session riding higher on the RBNZ announcement of new restriction in a bid to curb overheating in Auckland’s housing market.
Earlier in Asia, the Aussie fell in red after the release of a slew of downbeat Chinese data which re-ignited demand concerns from Australia’s top trading partner amid a deepening Chinese slowdown.
Meanwhile, markets now eagerly await US retail sales data due later in the day for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8029 (April 30 High) levels, above which gains could be extended to 0.8076 (April 29 High) levels. On the flip side, support is seen at 0.7952 (Today’s Low) levels from here it to 0.7900 levels.
AUD/USD back above 0.80
Currently, the AUD/USD pair trades 0.64% higher at 0.8027, hovering close to fresh session highs reached at 0.8033. AUD/USD wiped out China data induced losses and swung back higher above the big 0.80 figure mainly correlating gains for the New Zealand dollar.
The Kiwi rallies nearly 1% this session riding higher on the RBNZ announcement of new restriction in a bid to curb overheating in Auckland’s housing market.
Earlier in Asia, the Aussie fell in red after the release of a slew of downbeat Chinese data which re-ignited demand concerns from Australia’s top trading partner amid a deepening Chinese slowdown.
Meanwhile, markets now eagerly await US retail sales data due later in the day for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8029 (April 30 High) levels, above which gains could be extended to 0.8076 (April 29 High) levels. On the flip side, support is seen at 0.7952 (Today’s Low) levels from here it to 0.7900 levels.