AUD/USD Off Highs, Returns to 0.7540
After advancing to the area of 0.7570, AUD/USD lost upside traction and has returned to the 0.7545/40 band.
AUD/USD well supported near 0.7500
The
pair has managed to recover some ground lost after yesterday’s deep
pullback, although it found quite decent support in the 0.7500
neighbourhood. A pick up of the risk appetite has bolstered the Aussie
during the Asian trading hours, albeit the up move run out of steam in
the vicinity of 0.7580.
Empty calendar in Oz and the US will
leave the attention to the risk trends, ahead of the speech by New York
Fed’s W.Dudley due later in the European afternoon.
AUD/USD levels to watch
At
the moment the pair is advancing 0.47% at 0.7541 facing the next hurdle
at 0.7576 (20-day sma) followed by 0.7723 (2016 high Mar.31) and then
0.7739 (monthly high Jul.1 2015). On the other hand, a breach of 0.7475
(low Mar.24) would expose 0.7380 (38.2% Fibo of 0.6824-0.7723) and
finally 0.7332 (55-day sma).
(Market News Provided by FXstreet)
