Friday 14 October 2016

AUD/USD again above 0.7600

AUD/USD conquered again the 0.7600 handle during today’s early trading hours. The pair  rallied towards 0.7647 and it seems that this level will remain the intraday high. Despite the positive data coming from the USA, the greenback is trading mixed today, but definitely lower against the commodity currencies. The Asian session boosted the mood as Chinese macro data on inflation was released and marked quite good numbers.
From technical viewpoint the AUD/USD is moving upwards, though correction around 0.7600 level is the most likely scenario. The 20-day moving average is also heading to the upside. RSI is showing overbought market and the stochastic is displaying bullish momentum.
Resistance is now located at 0.7700 and support is seen at 0.7560 (61.80% Fibonacci retracement) and 0.7615 (23.60% Fibonacci retracement).



No comments:

Post a Comment