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- AUD/USD pops higher on RBA Steven's, retakes the 0.76 handle, we see scope for tests of 0.7650 levels.
- RBA's Glenn Stevens, speaking at the ASIC Annual Forum in Sydney, said there's more room to ease policy than most should a serious downturn occur.
- Stevens said that Australia's economy improving, financial system more resilient and picking up at turn of the year.
- Techs on 2-hourly charts show momentum higher, 2H cloud offers strong support on the downside, Stochs have rolled over from oversold and RSI is biased higher.
- Immediate resistance is seen at 0.7626 (Mar 21st highs) ahead of 0.7656 (Mar 17th highs).
- On the downside supports are aligned at 0.7591 (2H cloud top), 0.7588 (2H 10 DMA) and 0.7568 (session lows 22nd Mar).
Recommendation: Good to buy dips around 0.76, SL: 0.7560, TP: 0.7650/0.7660/0.7680
