30 Jan 2015
AUD/USD hits fresh session highs, heads towards monthly 200-SMA
FXStreet (Mumbai) - AUD/USD rebounded from fresh five and a half year lows reached in the previous session and edges higher on upbeat Australian PPI numbers.
Moves away from 5-1/2 year lows
Currently, the AUD/USD trades 0.38% higher on the day, posting fresh daily highs at 0.7790 levels. The Aussie advanced this morning after Australia's producer price index at the final stage of production lifted 0.1%in the December quarter, following a rise of 0.2% in the September quarter. Also, the Final PPI is now 1.1% higher than at the same time last year. Moreover, slight recovery in gold prices also supported the gains in the AUD/USD pair.
The Aussie collapsed in the previous session amid growing expectations of further easing by the RBA and falling commodity prices.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7801 (monthly 200-SMA) levels, above which gains could be extended to 0.7850 levels. On the flip side, support is seen at 0.7760 from here it to 0.7720 levels
Moves away from 5-1/2 year lows
Currently, the AUD/USD trades 0.38% higher on the day, posting fresh daily highs at 0.7790 levels. The Aussie advanced this morning after Australia's producer price index at the final stage of production lifted 0.1%in the December quarter, following a rise of 0.2% in the September quarter. Also, the Final PPI is now 1.1% higher than at the same time last year. Moreover, slight recovery in gold prices also supported the gains in the AUD/USD pair.
The Aussie collapsed in the previous session amid growing expectations of further easing by the RBA and falling commodity prices.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7801 (monthly 200-SMA) levels, above which gains could be extended to 0.7850 levels. On the flip side, support is seen at 0.7760 from here it to 0.7720 levels