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Trading news
27 Apr 2015
AUD/USD bulls sticking to their guns ahead of key US data
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7832 with a high of 0.7838 and a low of 0.7817.
AUD/USD is up to just shy of the April highs still and consolidated post last weeks bullish close, yet lacks momentum. In fact, although coming with a bullish bias, the chances of a clear break to the upside are fading amongst a string resistance zone.
A key week for AUD/USD
That said, the market is happy on the better than expected data from Australia of late and a disappointments from the US docket this week could be the tipping point. We have Q1 GDP from the US as well as the FOMC statement to come. Meanwhile, key levels to the downside are,the two month support line at 0.7488, the October 2006 low at 0.7416 and 0.7369 July 2005 low.
AUD/USD is up to just shy of the April highs still and consolidated post last weeks bullish close, yet lacks momentum. In fact, although coming with a bullish bias, the chances of a clear break to the upside are fading amongst a string resistance zone.
A key week for AUD/USD
That said, the market is happy on the better than expected data from Australia of late and a disappointments from the US docket this week could be the tipping point. We have Q1 GDP from the US as well as the FOMC statement to come. Meanwhile, key levels to the downside are,the two month support line at 0.7488, the October 2006 low at 0.7416 and 0.7369 July 2005 low.