AUD/USD: remains in positive territory - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair managed to recover most of the ground shed last Friday, advancing up to 0.7649 intraday before closing the day a handful of pips below that high.

Key Quotes:

"Despite equities edged lower worldwide, and gold prices saw limited intraday action, something that usually puts the antipodean currency under pressure, the pair held above the key 0.7600 mark, suggesting the market is not ready to give up on the Aussie. The short term picture for the pair favors additional gains, as in the 1 hour chart, the price is above a slightly bullish 20 SMA, whilst technical indicators have resumed their advances within positive territory after a modest downward correction."