8 Apr 2015
AUD/USD consolidates above 0.7700
FXStreet (Córdoba) - The Australian dollar is advancing for a second day in a row on Wednesday, having climbed above the 0.77 mark versus the greenback, which trades softer across the board ahead of the FOMC minutes’ release.
AUD/USD has climbed nearly 100 pips throughout the day and reached a 9-day high of 0.7727 before finding resistance. The pair has settled in a narrow range near highs over the last hours and it was last trading up 1.01% on the day at 0.7710.
With no first-tier data scheduled for today, attention turns to the FOMC minutes’ release of the March 17-18 meeting when the Fed dropped the word “patient” from the statement and downgraded economic projections. However, in the light of US economic data over the last weeks and the fact that FOMC members highlight the eventual "lift-off" remains data dependent, discussions last month might have became outdated.
AUD/USD levels to watch
As for technical levels, immediate resistances are seen at 0.7727 (daily high), 0.7743 (50-day MA) and 0.7800/02 (psychological level/Mar 20 high). On the other hand, supports could be found at 0.7659 (10-day SMA), 0.7630 (daily low) and 0.7576 (Apr 7 low).
AUD/USD has climbed nearly 100 pips throughout the day and reached a 9-day high of 0.7727 before finding resistance. The pair has settled in a narrow range near highs over the last hours and it was last trading up 1.01% on the day at 0.7710.
With no first-tier data scheduled for today, attention turns to the FOMC minutes’ release of the March 17-18 meeting when the Fed dropped the word “patient” from the statement and downgraded economic projections. However, in the light of US economic data over the last weeks and the fact that FOMC members highlight the eventual "lift-off" remains data dependent, discussions last month might have became outdated.
AUD/USD levels to watch
As for technical levels, immediate resistances are seen at 0.7727 (daily high), 0.7743 (50-day MA) and 0.7800/02 (psychological level/Mar 20 high). On the other hand, supports could be found at 0.7659 (10-day SMA), 0.7630 (daily low) and 0.7576 (Apr 7 low).