8 Jun 2015
AUD/USD lifted around 0.7635
FXStreet (Mumbai) - The Australian dollar retains gains versus the US dollar in the mid-European session, with AUD/USD extending gains beyond 0.76 handle, largely on the back of broad USD softness while traders wait for economic data in the next session as Australian markets were closed for a holiday today.
AUD/USD supported at 0.7603
Currently, the AUD/USD pair trades 0.18% higher at 0.7636, easing-off fresh session highs reached at 0.7653 earlier this session. The Aussie was well bid today, snapping 2-days of hugh declines, as the US dollar witnessed a sudden drop following a report from French officials that US President Barack Obama said a strong dollar was a problem, which knocked the buck down across the board. However, the rumour was later denied by the White House.
Moreover, the AUD/USD pair also remained boosted on better than expected Chinese trade figures. China showed the nation's trade surplus rose from $34.13 billion to $54.49 billion in May. Meanwhile, markets now focus on tomorrow’s NAB Business Confidence Index and Chinese inflation data in absence of significant economic releases due later today.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7671 (June 1 High) levels, above which gains could be extended to 0.7700 levels. On the flip side, support is seen at 0.7603 (Today’s Low) levels from here it to 0.7568 (April 15 Low) levels.
AUD/USD supported at 0.7603
Currently, the AUD/USD pair trades 0.18% higher at 0.7636, easing-off fresh session highs reached at 0.7653 earlier this session. The Aussie was well bid today, snapping 2-days of hugh declines, as the US dollar witnessed a sudden drop following a report from French officials that US President Barack Obama said a strong dollar was a problem, which knocked the buck down across the board. However, the rumour was later denied by the White House.
Moreover, the AUD/USD pair also remained boosted on better than expected Chinese trade figures. China showed the nation's trade surplus rose from $34.13 billion to $54.49 billion in May. Meanwhile, markets now focus on tomorrow’s NAB Business Confidence Index and Chinese inflation data in absence of significant economic releases due later today.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7671 (June 1 High) levels, above which gains could be extended to 0.7700 levels. On the flip side, support is seen at 0.7603 (Today’s Low) levels from here it to 0.7568 (April 15 Low) levels.