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22 Apr 2015
AUD/USD bulls shrugging off the supply
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7774 with a high of 0.7808 and a low of 0.7704.
AUD/USD is offering some good two way business with a better bid day yesterday from the depths of the 0.77 handle to reach almost a cent higher up to the 0.78 handle before reversing 50% of the gains to the mid point of the handle and then coming with a drift to current levels.
The Aussie is trading with a mix of trade through the greenback and with gold sliding heavily down to test close to the bottom of Aprils channel. Meanwhile, we will reflect on yesterdays CPI's that were in line, leaving it less likely that we will be seeing action from the RBA next month and adding support to the Aussie. However, there is still some work to do to the upside if the pair is going to offer a convincing reversal while trading below the February and March highs at 0.7912/38. A key level to break would come as the 0.8034 and early January low to put the pair out of the hands of the bears.
AUD/USD is offering some good two way business with a better bid day yesterday from the depths of the 0.77 handle to reach almost a cent higher up to the 0.78 handle before reversing 50% of the gains to the mid point of the handle and then coming with a drift to current levels.
The Aussie is trading with a mix of trade through the greenback and with gold sliding heavily down to test close to the bottom of Aprils channel. Meanwhile, we will reflect on yesterdays CPI's that were in line, leaving it less likely that we will be seeing action from the RBA next month and adding support to the Aussie. However, there is still some work to do to the upside if the pair is going to offer a convincing reversal while trading below the February and March highs at 0.7912/38. A key level to break would come as the 0.8034 and early January low to put the pair out of the hands of the bears.