FxWirePro: AUD/USD gains modestly as Yellen's speech looms
The AUD/USD inched higher on Friday as investors waited on a speech by Federal Reserve Chair Janet Yellen for any new indications on when the U.S. central bank will next raise interest rates. Currently, the currency pair…
The AUD/USD inched higher on Friday as investors waited on a speech by Federal Reserve Chair Janet Yellen for any new indications on when the U.S. central bank will next raise interest rates.
Currently, the currency pair is trading at 0.7660 levels, it is set to decline towards 0.7600 and 0.7550 levels in the short term.
Short pullback around 0.7680 should be taken as selling opportunities, as Australian dollar is weaker against the US dollar in intraday trading.
To the upside, the strong resistance can be seen at 0.7706, a break above this level would take the pair towards next resistance level at 0.7749.
To the downside immediate support can be seen at 0.7627, a break below this level will open the door towards next level at 0.7578.
