AUD/USD Testing Highs Near 0.7530

AUD/USD Testing Highs Near 0.7530

25 March 2016, 09:38
Roberto Jacobs

AUD/USD Testing Highs Near 0.7530

The Aussie dollar is now picking up pace vs. the greenback, sending AUD/USD to the area of daily tops near 0.7530.

AUD/USD supported near 0.7500

The pair is looking to stabilize in the low-0.7500s after finding quite strong resistance in the proximity of 0.7700 the figure, closing the week with losses for the first time after three consecutive advances.

The USD dynamics will remain the exclusive driver for the pair in the next sessions, following today’s Good Friday and Easter Monday holidays in Oz, with the next relevant event being the RBA meeting on April 5th

AUD/USD levels to watch

At the moment the pair is up 0.01% at 0.7531 facing the next hurdle at 0.7684 (2016 high Mar.18) ahead of 0.7739 (monthly high Jul.1 2015) and then 0.7851 (monthly high Jun.18 2015). On the other hand, a breach of 0.7481 (23.6% Fibo of 0.6824-0.7684) would open the door to 0.7469 (20-day sma) and finally 0.7413 (low Mar.13).

(Market News Provided by FXstreet)

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