17 Feb 2015
AUD/USD jumps to fresh session highs, 0.7800 in sight
FXStreet (Mumbai) - AUD/USD rallies to fresh session highs in the Asian morning, in a delayed reaction to a neutral Reserve Bank of Australia’s (RBA) monetary policy meeting minutes which maintained its long-held stance that the exchange rate.
AUD/USD faces stiff resistance at 20-DMA
Currently, the AUD/USD trades higher by 0.20% at fresh session highs of 0.7789 levels, bouncing-off lows at 0.7743 levels posted an hour ago. AUD/USD edged higher as the Australian dollar strengthened after the RBA minutes stated that the recent decline in the exchange rate was favourable for the nation’s economic growth and further noted that lower AUD/USD would also put some temporary upward pressure on inflation.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7790 (20-DMA) levels, above which gains could be extended to 0.7840 (Feb 9 High) levels. On the flip side, support is seen at 0.7721 (Feb 13 Low) from here it to 0.7691 (Feb 11 Low) levels.
AUD/USD faces stiff resistance at 20-DMA
Currently, the AUD/USD trades higher by 0.20% at fresh session highs of 0.7789 levels, bouncing-off lows at 0.7743 levels posted an hour ago. AUD/USD edged higher as the Australian dollar strengthened after the RBA minutes stated that the recent decline in the exchange rate was favourable for the nation’s economic growth and further noted that lower AUD/USD would also put some temporary upward pressure on inflation.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7790 (20-DMA) levels, above which gains could be extended to 0.7840 (Feb 9 High) levels. On the flip side, support is seen at 0.7721 (Feb 13 Low) from here it to 0.7691 (Feb 11 Low) levels.