27 Jan 2015
AUD/USD extends recovery
FXStreet (Córdoba) - AUD/USD remains in recovery mode on Tuesday, edging slowly higher for a second day, after hitting a fresh 5 ½-year low at the weekly opening.
AUD/USD received a boost during the European session and jumped half a cent to touch a 4-day high of 0.7967 before losing momentum. At time of writing, the pair is trading at 0.7950, up 0.34% on the day, with immediate resistance at the 0.8000/04 zone (psychological level/100-hour SMA).
The US dollar is broadly softer across the board, save the franc, as investors await the FOMC monetary policy decision to be published on Wednesday. It remains to be seen how the Fed will respond to latest rates cut and easing measures by major central banks and if it maintains its current path.
AUD/USD received a boost during the European session and jumped half a cent to touch a 4-day high of 0.7967 before losing momentum. At time of writing, the pair is trading at 0.7950, up 0.34% on the day, with immediate resistance at the 0.8000/04 zone (psychological level/100-hour SMA).
The US dollar is broadly softer across the board, save the franc, as investors await the FOMC monetary policy decision to be published on Wednesday. It remains to be seen how the Fed will respond to latest rates cut and easing measures by major central banks and if it maintains its current path.