17 Aug 2015
AUD/USD testing highs near 0.7375 post China fix
FXStreet (Mumbai) - The Australian dollar keeps losses against its American counterpart in the Asian morning, with AUD/USD consolidating below 0.74 handle, as little attention was paid to the latest Yuan fix with markets settling down over the new China fx regime.
AUD/USD eyes 0.7400 levels
Currently, the AUD/USD pair trades -0.12% lower at 0.7371 having posted a high at 0.7382 and a low at 0.7364. The AUD/USD pair continues to trade around a flat-line, oscillating in a 20-pips slim range, as the Aussie was unperturbed by the firmer yuan fix for the second day in a row by PBOC. The Chinese central bank, PBOC, sets US dollar/Yuan parity at 6.3969 versus 6.3918 on Friday close.
Moreover, the Aussie remains pressured amid persistent broad based US dollar strength supported by Friday’s data releases from the US including the PPI and industrial production figures which came in better than expectations.
Looking ahead, the pair will track US dollar moves amid lack of fresh incentives in the European and US session today as focus now shifts to RBA monetary policy minutes due tomorrow.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7399 (Aug 14 High) levels, above which gains could be extended to 0.7413 (Aug 13 High). On the flip side, support is seen at 0.7364 (Today’s Low) levels from here it to 0.7321 (Aug 13 Low).
AUD/USD eyes 0.7400 levels
Currently, the AUD/USD pair trades -0.12% lower at 0.7371 having posted a high at 0.7382 and a low at 0.7364. The AUD/USD pair continues to trade around a flat-line, oscillating in a 20-pips slim range, as the Aussie was unperturbed by the firmer yuan fix for the second day in a row by PBOC. The Chinese central bank, PBOC, sets US dollar/Yuan parity at 6.3969 versus 6.3918 on Friday close.
Moreover, the Aussie remains pressured amid persistent broad based US dollar strength supported by Friday’s data releases from the US including the PPI and industrial production figures which came in better than expectations.
Looking ahead, the pair will track US dollar moves amid lack of fresh incentives in the European and US session today as focus now shifts to RBA monetary policy minutes due tomorrow.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7399 (Aug 14 High) levels, above which gains could be extended to 0.7413 (Aug 13 High). On the flip side, support is seen at 0.7364 (Today’s Low) levels from here it to 0.7321 (Aug 13 Low).