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9 Apr 2015
AUD/USD back to the start again on 0.76 handle
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7694 with a high of 0.7741 and a low of 0.7659.
AUD/USD bulls have had a poor run post the moves up through resistances to score almost a half cent of gains overnight. The downside came in with supply at 0.7737 down to 0.7680 on broad greenback strength. The major commodity currency had been boosted by minor recoveries in the commodity sector and an RBA policy that has been kept on hold again. However, this could all change and from past experiences of the Central Banks, surprises can come at anytime, so bulls are cautious around the May meeting and speculation is mounting for action at that juncture to spur growth in the Australian economy.
Technically, we would be entering positive grounds of a break up on to the 0.77 handle as this would bring in the 55 DMA as a target again for the bulls to conquer at 0.7755 and puts sights on the 0.78 handle. That would be gathering up commitments for the March highs at 0.7936. On a move lower, 0.7600 marks key support to the downside, and a break of that could open up the two month support line at 0.7508.
AUD/USD bulls have had a poor run post the moves up through resistances to score almost a half cent of gains overnight. The downside came in with supply at 0.7737 down to 0.7680 on broad greenback strength. The major commodity currency had been boosted by minor recoveries in the commodity sector and an RBA policy that has been kept on hold again. However, this could all change and from past experiences of the Central Banks, surprises can come at anytime, so bulls are cautious around the May meeting and speculation is mounting for action at that juncture to spur growth in the Australian economy.
Technically, we would be entering positive grounds of a break up on to the 0.77 handle as this would bring in the 55 DMA as a target again for the bulls to conquer at 0.7755 and puts sights on the 0.78 handle. That would be gathering up commitments for the March highs at 0.7936. On a move lower, 0.7600 marks key support to the downside, and a break of that could open up the two month support line at 0.7508.