27 Jan 2015
AUD/USD posts fresh session highs
FXStreet (Mumbai) - AUD/USD shaved-off weak Oz business conditions induced losses and advanced to fresh session highs as traders now shift their attention towards tomorrow's Australian inflation print.
Currently, the AUD/USD posts fresh daily highs at 0.7936 levels, up 0.14% on the day, pulling away from day’s low at 0.7906 levels hit earlier in the session. The Aussie pair edged higher rebounding from daily lows posted after data revealed that business conditions softened last month in Australia while confidence held at low levels. The rebound may be seen as the US dollar weakened across the board.
However, the pair is expected to remain exposed to downside risk as expectations of a softer inflation print tomorrow may add to signs that weaker economic settings may lead the RBA to slash interest rates year.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7960 levels, above which gains could be extended to 0.7800 levels. On the flip side, support is seen at 0.7906 from here it to 0.7872 levels.
Currently, the AUD/USD posts fresh daily highs at 0.7936 levels, up 0.14% on the day, pulling away from day’s low at 0.7906 levels hit earlier in the session. The Aussie pair edged higher rebounding from daily lows posted after data revealed that business conditions softened last month in Australia while confidence held at low levels. The rebound may be seen as the US dollar weakened across the board.
However, the pair is expected to remain exposed to downside risk as expectations of a softer inflation print tomorrow may add to signs that weaker economic settings may lead the RBA to slash interest rates year.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7960 levels, above which gains could be extended to 0.7800 levels. On the flip side, support is seen at 0.7906 from here it to 0.7872 levels.