FxWirePro: AUD/USD runs out of steam but maintains bullish outlook
The AUD/USD inched higher on Tuesday, as commodity currencies strengthened across the board after oil prices rose sharply towards $43 per barrel. The pair hit high at 0.7674, after finding buying interest around 0.7592 l…
The AUD/USD inched higher on Tuesday, as commodity currencies strengthened across the board after oil prices rose sharply towards $43 per barrel.
The pair hit high at 0.7674, after finding buying interest around 0.7592 levels before retreating slightly towards 0.7643 levels in the early US session.
Currently the currency pair is trading at 0.7643 levels, it is set to advance future towards 0.7700 and 0.7720 levels in the short term.
To the upside, the strong resistance can be seen at 0.7700, a break above this level would take the pair towards next resistance level at 0.7773.
To the downside immediate support can be seen at 0.7656, a break below this level will open the door towards next level at 0.7612.
