FxWirePro: AUDUSD intraday upside momentum strong after oil prices rally
The AUD/USD inched higher on Wednesday, as commodity currencies strengthened across the board after oil prices rose sharply towards $45 per barrel. The pair hit high at 0.7380, after finding buying interest around 0.7335…
The AUD/USD inched higher on Wednesday, as commodity currencies strengthened across the board after oil prices rose sharply towards $45 per barrel.
The pair hit high at 0.7380, after finding buying interest around 0.7335 levels before retreating slightly towards 0.7358 levels in the early US session.
Currently the currency pair is trading at 0.7371 levels, it is set to advance future towards 0.7400 and 0.7440 levels in the short term.
To the upside, the strong resistance can be seen at 0.7391, a break above this level would take the pair towards next resistance level at 0.7437.
To the downside immediate support can be seen at 0.7345, a break below this level will open the door towards next level at 0.7300.
