9 Mar 2015
AUD/USD found support at 0.7710, back to test daily highs
FXStreet (Tokyo) - The AUD/USD's bounce from 0.7680 found some buying interest at 0.7740 that sent it back to 0.7710; however the pair started to recover ground at this level and now it's attempting to test daily highs again.
Currently, AUD/USD is trading at 0.7730, up 0.14% on the day, having posted a daily high at 0.7742 and low at 0.7684. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
AUD/USD forecast
As Forexcrunch Analyst Yohay Elam said in the Forecast Poll, "the Australian dollar was saved by the RBA, but this isn't likely to last too long." Overall, RBA sounded pretty dovish. "Expectations for a cut next time around could begin to grow if employment misses this week," pointed out Neal Gilbert.
The Aussie bias looks bearish in the middle and long term and plus USD strength it seems the natural bias for the AUD/USD should be bearish.
Australian dollar to US dollar exchange rate
If the pair extends advance beyond 0.7740, it will find next resistances at 0.7750 and 0.7790. To the downside, supports are at 0.7680, 0.7650 and 0.7625.
Currently, AUD/USD is trading at 0.7730, up 0.14% on the day, having posted a daily high at 0.7742 and low at 0.7684. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
AUD/USD forecast
As Forexcrunch Analyst Yohay Elam said in the Forecast Poll, "the Australian dollar was saved by the RBA, but this isn't likely to last too long." Overall, RBA sounded pretty dovish. "Expectations for a cut next time around could begin to grow if employment misses this week," pointed out Neal Gilbert.
The Aussie bias looks bearish in the middle and long term and plus USD strength it seems the natural bias for the AUD/USD should be bearish.
Australian dollar to US dollar exchange rate
If the pair extends advance beyond 0.7740, it will find next resistances at 0.7750 and 0.7790. To the downside, supports are at 0.7680, 0.7650 and 0.7625.