25 Jun 2015
AUD/USD extends recovery beyond 0.7700
FXStreet (Mumbai) - The Australian dollar extends its overnight recovery mode versus the US dollar in the early Asian trades, lifting AUD/USD beyond 0.77 handle. The Aussie rebounded sharply from one-week lows and extends gains largely on profit-taking ahead of US Core Price index data later today.
AUD/USD supported at 0.7706
Currently, the AUD/USD pair trades 0.19% higher at session highs of 0.7719, recovering from one-week lows reached at 0.7680 on Wednesday. The pair reversed previous losses and edged higher this session mainly on a short-covering rally as the traders resorted to locking-in gains after the recent weakness. While the US dollar continues to trades muted across the board amid a data-empty Asian session.
The Australian dollar fell in red versus the greenback on Wednesday, after the latest revisions to the US GDP for the first quarter revealed stronger household consumption and higher income.
While, the Greek drama is set to continue, with Euro group officials meeting up for the third time this week to reach a Greek solution after yet again ending yesterday’s meeting in a no deal.
In the day ahead, a heavy North American calendar is expected to keep the traders busy with Core PCE price index, weekly jobless claims and personal spending data from the US due to be published.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7753 (June 23 High) levels, above which gains could be extended to 0.7774 (June 24 High) levels. On the flip side, support is seen at 0.7680 (June 24 Low) levels from here it to 0.7642 (June 17 Low) levels.
AUD/USD supported at 0.7706
Currently, the AUD/USD pair trades 0.19% higher at session highs of 0.7719, recovering from one-week lows reached at 0.7680 on Wednesday. The pair reversed previous losses and edged higher this session mainly on a short-covering rally as the traders resorted to locking-in gains after the recent weakness. While the US dollar continues to trades muted across the board amid a data-empty Asian session.
The Australian dollar fell in red versus the greenback on Wednesday, after the latest revisions to the US GDP for the first quarter revealed stronger household consumption and higher income.
While, the Greek drama is set to continue, with Euro group officials meeting up for the third time this week to reach a Greek solution after yet again ending yesterday’s meeting in a no deal.
In the day ahead, a heavy North American calendar is expected to keep the traders busy with Core PCE price index, weekly jobless claims and personal spending data from the US due to be published.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7753 (June 23 High) levels, above which gains could be extended to 0.7774 (June 24 High) levels. On the flip side, support is seen at 0.7680 (June 24 Low) levels from here it to 0.7642 (June 17 Low) levels.