Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/USD regains upwards momentum, 0.7540 a key barrier

AUD/USD inched higher to trade around 0.7509 on Wednesday as the pair once again found buying interest after a short dip on weak Chinese trade data.

  • Much of the move was further gains in iron ore provided support to Aussie dollar.
  • Currently the pair is making an attempt to test resistance level at 0.9540.
     
  • Further decline is expected to be limited as the pair finds strong support at 0.7479 which should limit downside and initiate rebound back towards higher side.
     
  • To the upside, the strong resistance can be seen at 0.7540, a break above this level would take the pair towards next resistance level at 0.7616.
     
  • To the downside immediate support can be seen at 0.7479, a break below this level will open the door towards next level at 0.7415.

    Resistance Levels

    R1: 0.7527 (Daily high)  

    R2: 0.7540 (38.2% Retracement level)

    R3: 0.7616 (23.6% Retracement level)

    Support Levels

    S1: 0.7479 (38.2% Retracement level)

    S2: 0.7415 (23.6% Retracement level)

    S3: 0.7391 (March 7th lows)

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.