10 Jun 2015
AUD/USD recovers to 0.7690
FXStreet (Mumbai) - The US dollar is being offered across the board, taking the AUD/USD pair higher to 0.7690 from 0.7650 levels on the back of a sharp sell-off in the USD against the Japanese Yen.
AUD recovers RBA driven losses
The Aussie has taken back entire losses that were triggered by dovish comments from RBA Governor Stevens. The AUD/USD had dropped to a low of 0.7634 after Stevens said he is open to “possibility of further policy easing.”
However, the pair managed to take back losses due to a sell-off in the USD/JPY pair after BOJ’s Kuroda said yen may not weaken much further on real effective exchange rate basis. The sharp sell-off made the USD/JPY a cynosure of all eyes, thereby leading to a sell-off in the USD across the board.
AUD/USD Technical Levels
The immediate resistance is seen at 0.7720, above which gains could be extended to 0.7773 (100-DMA). On the flip side, a break below 0.7669 (hourly 50-MA) under which the pair could target 0.7634.
AUD recovers RBA driven losses
The Aussie has taken back entire losses that were triggered by dovish comments from RBA Governor Stevens. The AUD/USD had dropped to a low of 0.7634 after Stevens said he is open to “possibility of further policy easing.”
However, the pair managed to take back losses due to a sell-off in the USD/JPY pair after BOJ’s Kuroda said yen may not weaken much further on real effective exchange rate basis. The sharp sell-off made the USD/JPY a cynosure of all eyes, thereby leading to a sell-off in the USD across the board.
AUD/USD Technical Levels
The immediate resistance is seen at 0.7720, above which gains could be extended to 0.7773 (100-DMA). On the flip side, a break below 0.7669 (hourly 50-MA) under which the pair could target 0.7634.