4 Aug 2015
AUD/USD challenges 0.7400
FXStreet (Córdoba) - AUD/USD rose sharply, moving away from multi-year lows as the Aussie got a boost after Reserve Bank of Australia removed its reference to a weaker currency needed from the monetary policy statement.
AUD/USD rallied nearly 150 pips throughout the day and briefly rose above the 0.74 mark to hit a 10-day high of 0.7405 before settling below the 0.7400 level. Having spent the last hours in a slim range, AUD/USD is currently trading at 0.7395, recording a 1.54% gain on the day.
AUD/USD levels to watch
As for technical levels, resistances could be found at 0.7405 (Aug 4 high) and (10-day SMA/Jul 30, Aug 3 highs) and 0.7417 (Jul 23 high), while immediate supports are seen at 0.7259 (Aug 3 low) and 0.7234 (6-year low Jul 31).
AUD/USD rallied nearly 150 pips throughout the day and briefly rose above the 0.74 mark to hit a 10-day high of 0.7405 before settling below the 0.7400 level. Having spent the last hours in a slim range, AUD/USD is currently trading at 0.7395, recording a 1.54% gain on the day.
AUD/USD levels to watch
As for technical levels, resistances could be found at 0.7405 (Aug 4 high) and (10-day SMA/Jul 30, Aug 3 highs) and 0.7417 (Jul 23 high), while immediate supports are seen at 0.7259 (Aug 3 low) and 0.7234 (6-year low Jul 31).