9 Mar 2015
AUD/USD rebounds from monthly lows, regains 0.7700
FXStreet (Mumbai) - AUD/USD traded almost unchanged above 0.77 handle in the European morning, recovering from fresh monthly lows reached in the Asian session after Chinese imports fell sharply for the second month in a row which badly hit the Aussie.
AUD/USD rises from 0.7684 levels
Currently, the AUD/USD trades flat at 0.7712 levels, turning in to green territory. The Aussie shaved-off previous losses and held steady ad traders now await fresh cues from the European session for further USD moves. Also, higher gold and copper prices continue to support the resource-linked Australian dollar. However, the gains in the Aussie may remained capped as the greenback continues to hold ground across the board with the strong US payrolls figures.
AUD/USD fell to its lowest since early February, as Chinese data over the weekend showed a major drop in imports, a negative factor for Australia, which depends heavily on trade with the world's second largest economy.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7740 levels, above which gains could be extended to 0.7800 levels. On the flip side, support is seen at 0.7684 from here it to 0.7600 levels.
AUD/USD rises from 0.7684 levels
Currently, the AUD/USD trades flat at 0.7712 levels, turning in to green territory. The Aussie shaved-off previous losses and held steady ad traders now await fresh cues from the European session for further USD moves. Also, higher gold and copper prices continue to support the resource-linked Australian dollar. However, the gains in the Aussie may remained capped as the greenback continues to hold ground across the board with the strong US payrolls figures.
AUD/USD fell to its lowest since early February, as Chinese data over the weekend showed a major drop in imports, a negative factor for Australia, which depends heavily on trade with the world's second largest economy.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7740 levels, above which gains could be extended to 0.7800 levels. On the flip side, support is seen at 0.7684 from here it to 0.7600 levels.