13 Feb 2015
AUD/USD defends gains on RBA Stevens’ comments
FXStreet (Mumbai) - AUD/USD defends mild gains in the Asian session, moving away from weekly lows reached in the previous session after Reserve Bank of Australia (RBA) Governor Stevens changed his view on the Aussie, stating he is more comfortable with the exchange rate.
AUD/USD capped by 5-DMA
Currently, the AUD/USD steadies at 0.7745 levels, up 0.12% on the day, retreating from daily lows previously posted at 0.7738 levels. The Aussie inched higher this morning, lifted on RBA Steven’s stated in his speech that the AUD had begun to adjust more appropriately to economic developments.
Steven’s noted, "It is worth noting that, despite concerns at various times about whether the exchange rate would adjust appropriately to our changing circumstances, it has been doing so over the period since we last met with the Committee."
Moreover, broad based weakness in the US dollar has also contributed to the gains in the commodity currency, while recovering oil and gold prices continue to lend support to the Aussie.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7767 (10-DMA) levels, above which gains could be extended to 0.7800 levels. On the flip side, support is seen at 0.7720 from here it to 0.7644 levels.
AUD/USD capped by 5-DMA
Currently, the AUD/USD steadies at 0.7745 levels, up 0.12% on the day, retreating from daily lows previously posted at 0.7738 levels. The Aussie inched higher this morning, lifted on RBA Steven’s stated in his speech that the AUD had begun to adjust more appropriately to economic developments.
Steven’s noted, "It is worth noting that, despite concerns at various times about whether the exchange rate would adjust appropriately to our changing circumstances, it has been doing so over the period since we last met with the Committee."
Moreover, broad based weakness in the US dollar has also contributed to the gains in the commodity currency, while recovering oil and gold prices continue to lend support to the Aussie.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7767 (10-DMA) levels, above which gains could be extended to 0.7800 levels. On the flip side, support is seen at 0.7720 from here it to 0.7644 levels.