16 Feb 2015
AUD/USD striving for 0.7800
FXStreet (Mumbai) - AUD/USD rallied to fresh session highs in the mid-Asian session on a continued weakness in the US dollar as traders now await Reserve Bank of Australia’s (RBA) monetary policy meeting minutes due tomorrow.
AUD/USD rises from 0.7784 levels
Currently, the AUD/USD trades close to fresh session highs at 0.7794 levels, recording a 0.44% gain on the day. The Aussie soared to fresh highs largely on sustained weakness in the greenback across its major counterparts on downbeat US macro data released during the last week. Moreover, rising gold prices and stabilizing copper and oil prices also boosted the commodity-backed currency.
Meanwhile, traders now shift their attention towards RBA minutes tomorrow for fresh cues on the currency pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7800 levels, above which gains could be extended to 0.7843 levels. On the flip side, support is seen at 0.7758 from here it to 0.7721 levels.
AUD/USD rises from 0.7784 levels
Currently, the AUD/USD trades close to fresh session highs at 0.7794 levels, recording a 0.44% gain on the day. The Aussie soared to fresh highs largely on sustained weakness in the greenback across its major counterparts on downbeat US macro data released during the last week. Moreover, rising gold prices and stabilizing copper and oil prices also boosted the commodity-backed currency.
Meanwhile, traders now shift their attention towards RBA minutes tomorrow for fresh cues on the currency pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7800 levels, above which gains could be extended to 0.7843 levels. On the flip side, support is seen at 0.7758 from here it to 0.7721 levels.