14 Sep 2015
AUD/USD testing fresh 11-day highs near 0.7130
FXStreet (Mumbai) - The Aussie extends its upward trajectory into a seventh-day on Monday, as the Australian dollar is benefitting the most from the broad based USD weakness on the back of increased expectations of a dovish FOMC later in the week.
AUD/USD supported at 0.7115 levels
Currently, the AUD/USD pair trades 0.59% higher at 0.7132, re-attempting a test of fresh 11 day highs reached at 0.7136 in early Asia. The AUD/USD pair regained momentum and extends further to the upside as AUD traders cheer the increased chatter around Fed rate hike delay, which keeps the USD undermined.
Moreover, below estimates Chinese industrial production and retail sales data also failed to hamper the sentiment around the Aussie, as the pair seems to be largely influenced by the USD moves ahead of Thursday’s Fed decision.
Meanwhile, markets now shift their attention towards Tuesday’s RBA minutes for further cues on the AUD level and the RBA policy decision.
AUD/USD Levels to watch
The pair has an immediate resistance at 0.7157 (Sept 1 High) levels, above which gains could be extended to 0.7207 (Aug 28 High) levels. On the flip side, support is seen at 0.7064 (Today’s Low) levels from here it to 0.7009 (Sept 1 Low).
AUD/USD supported at 0.7115 levels
Currently, the AUD/USD pair trades 0.59% higher at 0.7132, re-attempting a test of fresh 11 day highs reached at 0.7136 in early Asia. The AUD/USD pair regained momentum and extends further to the upside as AUD traders cheer the increased chatter around Fed rate hike delay, which keeps the USD undermined.
Moreover, below estimates Chinese industrial production and retail sales data also failed to hamper the sentiment around the Aussie, as the pair seems to be largely influenced by the USD moves ahead of Thursday’s Fed decision.
Meanwhile, markets now shift their attention towards Tuesday’s RBA minutes for further cues on the AUD level and the RBA policy decision.
AUD/USD Levels to watch
The pair has an immediate resistance at 0.7157 (Sept 1 High) levels, above which gains could be extended to 0.7207 (Aug 28 High) levels. On the flip side, support is seen at 0.7064 (Today’s Low) levels from here it to 0.7009 (Sept 1 Low).