8 Apr 2015
AUD/USD extends beyond 0.7650
FXStreet (Mumbai) - AUD/USD prolongs its upside momentum in Asia, extending gains for the second straight session, as the Aussie keeps RBA –inspired gains amid a minor recovery in gold prices.
AUD/USD supported by 10-DMA
Currently, the AUD/USD trades at 0.7660, up 0.36% on the day, having jumped to fresh session highs at 0.7667 levels an hour ago. AUD/USD continues its upward trajectory and inches towards fresh highs as the Aussie receives support from a broadly weaker US dollar as traders booked profit on their USD longs after the recent rally.
Moreover, the Aussie continues to ride higher on RBA’s surprise status-quo yesterday, contrary to popular belief that the central bank would cut interest rates for the second time this year.
Meanwhile, traders now turn their focus on the major driver - FOMC minutes due for release later in the day for further US dollar moves.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7706 (20-DMA) levels, above which gains could be extended to 0.7736 (50-DMA) levels. On the flip side, support is seen at 0.7634 (10-DMA) levels from here it to 0.7600 levels.
AUD/USD supported by 10-DMA
Currently, the AUD/USD trades at 0.7660, up 0.36% on the day, having jumped to fresh session highs at 0.7667 levels an hour ago. AUD/USD continues its upward trajectory and inches towards fresh highs as the Aussie receives support from a broadly weaker US dollar as traders booked profit on their USD longs after the recent rally.
Moreover, the Aussie continues to ride higher on RBA’s surprise status-quo yesterday, contrary to popular belief that the central bank would cut interest rates for the second time this year.
Meanwhile, traders now turn their focus on the major driver - FOMC minutes due for release later in the day for further US dollar moves.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7706 (20-DMA) levels, above which gains could be extended to 0.7736 (50-DMA) levels. On the flip side, support is seen at 0.7634 (10-DMA) levels from here it to 0.7600 levels.