14 Jul 2015
AUD/USD in short term consolidation
FXStreet (Córdoba) - AUD/USD is rising on Tuesday but still remains in a range, consolidating near multi-year lows. Price has been rejected from level under 0.7400 but remain limited below 0.7500.
Today the pair broke above 0.7435 after the release of US economic data and peaked at 0.7479, hitting the highest level since last Friday. But then, greenback gained momentum and AUD/USD pulled back toward 0.7450, where currently is trading.
AUD/USD looking for direction
The long term trend continues to favor the bearish side in AUD/USD. But since last Wednesday it has been able to hold above the lows and stabilized. Price is moving without a clear direction.
A consolidation below 0.7400 would expose multi-year lows located at 0.7360/65 while to the upside, above 0.7500 the aussie could open the doors for further gains.
Today the pair broke above 0.7435 after the release of US economic data and peaked at 0.7479, hitting the highest level since last Friday. But then, greenback gained momentum and AUD/USD pulled back toward 0.7450, where currently is trading.
AUD/USD looking for direction
The long term trend continues to favor the bearish side in AUD/USD. But since last Wednesday it has been able to hold above the lows and stabilized. Price is moving without a clear direction.
A consolidation below 0.7400 would expose multi-year lows located at 0.7360/65 while to the upside, above 0.7500 the aussie could open the doors for further gains.