25 Jun 2015
AUD/USD testing highs near 0.7750
FXStreet (Mumbai) - The Australian dollar continues to ride higher versus the US dollar in the mid-Asian session, now pushing AUD/USD to fresh session highs above 0.7740 levels. The Aussie bulls took over complete control as markets view the recent decline as excessive ahead of a slew of US macro releases later today.
AUD/USD rises from 0.7719
Currently, the AUD/USD pair trades 0.60% higher at fresh session highs of 0.7749, extending its recovering from 0.7680 levels. The bid tone in AUD/USD heightened this session as trades fresh demand for AUD emerged as the Aussie held above 0.77 handle. While broad based US dollar weakness also boosted the upside in the AUD/USD pair.
The Aussie also received fresh impetus from higher commodity prices with gold posing a solid recovery after a drop to fresh 2-week lows on Wednesday.
While, the Greek drama is set to continue, with Euro group officials meeting up for the third time this week to reach a Greek solution after yet again ending yesterday’s meeting in a no deal.
In the day ahead, a heavy North American calendar is expected to keep the traders busy with Core PCE price index, weekly jobless claims and personal spending data from the US due to be published.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7753 (June 23 High) levels, above which gains could be extended to 0.7774 (June 24 High) levels. On the flip side, support is seen at 0.7680 (June 24 Low) levels from here it to 0.7642 (June 17 Low) levels.
AUD/USD rises from 0.7719
Currently, the AUD/USD pair trades 0.60% higher at fresh session highs of 0.7749, extending its recovering from 0.7680 levels. The bid tone in AUD/USD heightened this session as trades fresh demand for AUD emerged as the Aussie held above 0.77 handle. While broad based US dollar weakness also boosted the upside in the AUD/USD pair.
The Aussie also received fresh impetus from higher commodity prices with gold posing a solid recovery after a drop to fresh 2-week lows on Wednesday.
While, the Greek drama is set to continue, with Euro group officials meeting up for the third time this week to reach a Greek solution after yet again ending yesterday’s meeting in a no deal.
In the day ahead, a heavy North American calendar is expected to keep the traders busy with Core PCE price index, weekly jobless claims and personal spending data from the US due to be published.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7753 (June 23 High) levels, above which gains could be extended to 0.7774 (June 24 High) levels. On the flip side, support is seen at 0.7680 (June 24 Low) levels from here it to 0.7642 (June 17 Low) levels.