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4 Feb 2015
AUD/USD rebounds from 0.7740
FXStreet (Edinburgh) - The Aussie dollar remains on the back footing as markets enter the last part of the NA session on Wednesday, with AUD/USD around 0.7765/70.
AUD/USD consolidates above 0.7700
The pair has managed to come back from multi-year lows in sub-0.7700 levels following the RBA rate cut on Tuesday, when it lowered the refi rate to a record low of 2.25%. Upbeat tone in the risk-on space prompted a rebound to the mid-0.7800s although the bullish attempt run out of legs soon afterwards.
Next of relevance for tomorrow in Oz will be New Home Sales tracked by HIA followed by Retail Sales during December, all ahead the critical RBA Monetary Policy Statement on Friday.
AUD/USD levels to consider
The pair is now 0.37% at 0.7774 with the next support at 0.7725 (hourly low Feb.3) ahead of 0.7700 (psychological level) and finally 0.7627 (low Feb.3). On the flip side, a breakout of 0.7856 (10-d MA) would aim for 0.78882 (38.2% of 0.8295-0.7627) and then 0.7907 (high Jan.29).
AUD/USD consolidates above 0.7700
The pair has managed to come back from multi-year lows in sub-0.7700 levels following the RBA rate cut on Tuesday, when it lowered the refi rate to a record low of 2.25%. Upbeat tone in the risk-on space prompted a rebound to the mid-0.7800s although the bullish attempt run out of legs soon afterwards.
Next of relevance for tomorrow in Oz will be New Home Sales tracked by HIA followed by Retail Sales during December, all ahead the critical RBA Monetary Policy Statement on Friday.
AUD/USD levels to consider
The pair is now 0.37% at 0.7774 with the next support at 0.7725 (hourly low Feb.3) ahead of 0.7700 (psychological level) and finally 0.7627 (low Feb.3). On the flip side, a breakout of 0.7856 (10-d MA) would aim for 0.78882 (38.2% of 0.8295-0.7627) and then 0.7907 (high Jan.29).