6 Apr 2015
AUD/USD attempts a bounce to 0.7650
FXStreet (Mumbai) - AUD/USD erased losses from Asia and turned slightly in positive territory in the European morning, as markets await upcoming RBA’s decision tomorrow and remains cautious amid thin volumes.
AUD/USD rises from 0.7619
Currently, the AUD/USD trades flat at 0.7636, heading towards daily highs at 0.7647. AUD/USD recovered losses and resumes it upside bias as higher commodity prices provides support to the Aussie. However, the gains in the pair may be restricted as traders anticipate RBA’s to cut rates at its policy meeting due tomorrow.
The AUD/USD pair recovered from new cyclical lows and edged higher on Friday after worse-than expected US non-farm payrolls data triggered a broad USD sell-off, boosting the Aussie.
Meanwhile, in absence of significant economic data for the rest of day, markets now await Tuesday’s key RBA rate decision for further impact on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7647 levels, above which gains could be extended to 0.7692 levels. On the flip side, support is seen at 0.7600 levels from here it to 0.7560 levels.
AUD/USD rises from 0.7619
Currently, the AUD/USD trades flat at 0.7636, heading towards daily highs at 0.7647. AUD/USD recovered losses and resumes it upside bias as higher commodity prices provides support to the Aussie. However, the gains in the pair may be restricted as traders anticipate RBA’s to cut rates at its policy meeting due tomorrow.
The AUD/USD pair recovered from new cyclical lows and edged higher on Friday after worse-than expected US non-farm payrolls data triggered a broad USD sell-off, boosting the Aussie.
Meanwhile, in absence of significant economic data for the rest of day, markets now await Tuesday’s key RBA rate decision for further impact on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7647 levels, above which gains could be extended to 0.7692 levels. On the flip side, support is seen at 0.7600 levels from here it to 0.7560 levels.