4 Aug 2015
AUD/USD: bid tone intact, nears 0.7400
FXStreet (Mumbai) - The bid tone on the Aussie remains intact as the AUD/USD pair printed a fresh session high of 0.7395 despite weakness in commodity prices and an uptick in the treasury yields.
AUD/USD: stuck around 5-WMA
The spot now trades around 5-WMA located at 0.7389. The buying demand in the Aussie spiked after the change in the RBA’s language on the exchange rate leading to speculation that the bank has done away with its “more depreciation” view on the AUD.
With no major data due for release out of the US and little attention to falling oil prices, the US desks may join the AUD buying party, thereby pushing the spot above 0.74 levels.
AUD/USD Technical Levels
The immediate resistance is located at 0.74, above which the pair could target 0.7515 (10-WMA). On the flip side, support is seen at 0.7367 (July 31 high) and 0.73 handle.
AUD/USD: stuck around 5-WMA
The spot now trades around 5-WMA located at 0.7389. The buying demand in the Aussie spiked after the change in the RBA’s language on the exchange rate leading to speculation that the bank has done away with its “more depreciation” view on the AUD.
With no major data due for release out of the US and little attention to falling oil prices, the US desks may join the AUD buying party, thereby pushing the spot above 0.74 levels.
AUD/USD Technical Levels
The immediate resistance is located at 0.74, above which the pair could target 0.7515 (10-WMA). On the flip side, support is seen at 0.7367 (July 31 high) and 0.73 handle.