AUD/USD takes a breather above 0.7500

AUD/USD is taking a breather above the 0.75 mark after hitting fresh 1-week highs as investors await tomorrow’s crucial Q2 CPI data from Australia.

AUD/USD rose nearly 80 pips throughout the day and peaked at 0.7538 before finding some resistance. The pair pulled back and has entered a consolidative phase over the last hours, and it was last trading at 0.7528, recording a 0.82% gain on the day.

AUD/USD levels to watch

In terms of technical levels, next resistances line up at 0.7533/38 (Jul 26 high/10-day SMA), 0.7591 (Jul 19 high) and 0.7606 (Jul 18 high). On the flip side, supports are seen at 0.7442 (Jul 22 low), 0.7407/11 (Jul 6 low/50-day SMA) and 0.7320 (200-day SMA).

Jul 26, 2016

FOMC: Change in the policy stance in July is highly unlikely - Westpac

Research Team at Westpac, suggests that the past few months have proved particularly challenging for the FOMC, with soft nonfarm payrolls employment g

GBP/USD recovers to 1.3125, still struggling to move back in positive territory

After initially dropping to session low level of 1.3057, the GBP/USD pair has managed to recover its lost ground but is seen struggling to move back i