From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
24 Apr 2015
AUD/USD pushing on towards 0.78 psychological level
FXStreet (Guatemala) - AUD/USD is currently at 0.7780 trading with a high of 0.7792 and a low of 0.7709.
AUD/USD continues on the bid and bulls are pushing on in the driving seat post a series of rallies over night that has left the Aussie better bid in to the closing session for the week so far. The pair is now just a little way off the psychological handle and has the possibility of paring yesterday's highs, ahead of Aril highs at 0.7841.
There have been a number of factors driven in to the price this month, trading on data for the most part, while the markets prepare and place bets on action from the RBA at their next meeting on 5th May. The data, however, has been positive for the Australian economy where previous easing has likely contributed to the story and this may be taking some of the pressures for a requirement of further easing as soon as next month.
Meanwhile, technically, the major remains range bound between 0.7570 and 0.7850. The immediate resistance comes as 0.78 the figure while failures through 0.7850 and 0.7900's would leave the RBA relatively content for the time being. However, success on to 0.80 would be alarming. Key levels t the downside are,the two month support line at 0.7488, the October 2006 low at 0.7416 and 0.7369 July 2005 low.
AUD/USD continues on the bid and bulls are pushing on in the driving seat post a series of rallies over night that has left the Aussie better bid in to the closing session for the week so far. The pair is now just a little way off the psychological handle and has the possibility of paring yesterday's highs, ahead of Aril highs at 0.7841.
There have been a number of factors driven in to the price this month, trading on data for the most part, while the markets prepare and place bets on action from the RBA at their next meeting on 5th May. The data, however, has been positive for the Australian economy where previous easing has likely contributed to the story and this may be taking some of the pressures for a requirement of further easing as soon as next month.
Meanwhile, technically, the major remains range bound between 0.7570 and 0.7850. The immediate resistance comes as 0.78 the figure while failures through 0.7850 and 0.7900's would leave the RBA relatively content for the time being. However, success on to 0.80 would be alarming. Key levels t the downside are,the two month support line at 0.7488, the October 2006 low at 0.7416 and 0.7369 July 2005 low.