24 Mar 2015
AUD/USD: Directionless post big upside score
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7867 with a high of 0.7939 and a low of 0.7835.
AUD/USD has been up on another leg of demand that took the major to score space on to the 0.79 handle and making fresh highs for March trading. This puts 0.80 on the map which price that was last exchanged at on 27th Jan 2015 on a minor recovery from 0.7957, second support of the 0.82 downtrend. For the US session, the pair is consolidating and indecisive with 0.7860/80 acting as support meeting the supply from above 0.79 the figure.
Technically, the pair has pierced a strong technical upside level and this could insight further bullishness from the market for the Aussie, especially against a softer backdrop for the greenback. The pair broke through last week’s highs at 0.7845 on a daily chart closing basis, as noted by Karen Jones, chief analyst at Commerzbank and if pressure does come in again, the downside to the support line at 0.7539 is expected by Jones to hold the initial test.
AUD/USD has been up on another leg of demand that took the major to score space on to the 0.79 handle and making fresh highs for March trading. This puts 0.80 on the map which price that was last exchanged at on 27th Jan 2015 on a minor recovery from 0.7957, second support of the 0.82 downtrend. For the US session, the pair is consolidating and indecisive with 0.7860/80 acting as support meeting the supply from above 0.79 the figure.
Technically, the pair has pierced a strong technical upside level and this could insight further bullishness from the market for the Aussie, especially against a softer backdrop for the greenback. The pair broke through last week’s highs at 0.7845 on a daily chart closing basis, as noted by Karen Jones, chief analyst at Commerzbank and if pressure does come in again, the downside to the support line at 0.7539 is expected by Jones to hold the initial test.