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6 Feb 2015
AUD/USD steadies above 10-DMA
FXStreet (Mumbai) - AUD/USD extended gains for the second straight session and held firmly above 0.78 handle, despite RBA’s downgrading its growth and inflation forecasts in its monetary policy statement.
Aussie retreats from weekly highs
Currently, the AUD/USD trades stronger by 0.28% at 0.7820 levels, retracing from day’s high posted at 0.7859 levels after RBA’s statement. The Aussie remained elevated post RBA’s statement as markets had already priced-in RBA’s another dig at the currency which is proving less assistance with rebalancing growth than it could.
Moreover, the pair continues to ride higher on yesterday’s upbeat housing data, while disappointing US jobs data weakened the US dollar, adding to the gains in the Aussie.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7859 levels, above which gains could be extended to 0.7900 levels. On the flip side, support is seen at 0.7800 from here it to 0.7740 levels.
Aussie retreats from weekly highs
Currently, the AUD/USD trades stronger by 0.28% at 0.7820 levels, retracing from day’s high posted at 0.7859 levels after RBA’s statement. The Aussie remained elevated post RBA’s statement as markets had already priced-in RBA’s another dig at the currency which is proving less assistance with rebalancing growth than it could.
Moreover, the pair continues to ride higher on yesterday’s upbeat housing data, while disappointing US jobs data weakened the US dollar, adding to the gains in the Aussie.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7859 levels, above which gains could be extended to 0.7900 levels. On the flip side, support is seen at 0.7800 from here it to 0.7740 levels.