FxWirePro: AUD/USD retakes 0.76 handle, good to buy dips, scope for test of 0.7650
AUD/USD pops higher on RBA Steven's, retakes the 0.76 handle, we see scope for tests of 0.7650 levels. RBA's Glenn Stevens, speaking at the ASIC Annual Forum in Sydney, said there's more room to ease policy than most sho…
AUD/USD pops higher on RBA Steven's, retakes the 0.76 handle, we see scope for tests of 0.7650 levels.
RBA's Glenn Stevens, speaking at the ASIC Annual Forum in Sydney, said there's more room to ease policy than most should a serious downturn occur.
Stevens said that Australia's economy improving, financial system more resilient and picking up at turn of the year.
Techs on 2-hourly charts show momentum higher, 2H cloud offers strong support on the downside, Stochs have rolled over from oversold and RSI is biased higher.
Immediate resistance is seen at 0.7626 (Mar 21st highs) ahead of 0.7656 (Mar 17th highs).
On the downside supports are aligned at 0.7591 (2H cloud top), 0.7588 (2H 10 DMA) and 0.7568 (session lows 22nd Mar).
Recommendation: Good to buy dips around 0.76, SL: 0.7560, TP: 0.7650/0.7660/0.7680
