FxWirePro: AUD/USD runs out of steam but maintains bullish outlook
The AUD/USD inched higher on Monday, as downbeat U.S. economic data late last week pushed back expectations of a rate hike by the Federal Reserve. The pair rose in the Asian session after finding buying interest around 0…
The AUD/USD inched higher on Monday, as downbeat U.S. economic data late last week pushed back expectations of a rate hike by the Federal Reserve.
The pair rose in the Asian session after finding buying interest around 0.7576 levels before retreating slightly towards 0.7569 levels in the early US session.
Currently, the currency pair is trading at 0.7569 levels, it is set to advance future towards 0.7700 and 0.7750 levels in the short term.
To the upside, the strong resistance can be seen at 0.7707, a break above this level would take the pair towards next resistance level at 0.7771.
To the downside immediate support can be seen at 0.7568, a break below this level will open the door towards next level at 0.7508.
