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5 May 2015
AUD/USD gyrates around 0.79
FXStreet (Mumbai) - The AUD/USD pair is trading around 0.79 levels, after having declined from the session high of 0.7916 as the rating agency Fitch called for greater macro-prudential response.
AUD/USD: stuck at hourly 100-MA
The pair is having trouble sustaining gains above the hourly 100-MA located on 0.7900 levels. The fresh bids came after the rating agency Fitch expressed concern that the RBA’s decision to cut rates today could further fuel the property market.
The pair clocked a high of 0.7916 earlier today as the RBA dropped its easing bias. Moreover, a 25 basis point rate cut was already priced-in by the markets.
AUD/USD Technical Levels
The immediate resistance is located at 0.7916, above which the gains could be extended to 0.7987. On the flip side, a break below 0.7861 could drive the pair lower to 0.7789.
AUD/USD: stuck at hourly 100-MA
The pair is having trouble sustaining gains above the hourly 100-MA located on 0.7900 levels. The fresh bids came after the rating agency Fitch expressed concern that the RBA’s decision to cut rates today could further fuel the property market.
The pair clocked a high of 0.7916 earlier today as the RBA dropped its easing bias. Moreover, a 25 basis point rate cut was already priced-in by the markets.
AUD/USD Technical Levels
The immediate resistance is located at 0.7916, above which the gains could be extended to 0.7987. On the flip side, a break below 0.7861 could drive the pair lower to 0.7789.