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13 Apr 2015
AUD/USD extends recovery to 0.7600
FXStreet (Tokyo) - The Australian Dollar is trading in recovery mode against its American counterpart as the pair is now testing the 0.7600 area after bouncing off 0.7550.
Currently, AUD/USD is trading at 0.7595, down 1.13% on the day, having posted a daily high at 0.7680 and low at 0.7552. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
AUD/USD forecast
Earlier in the day, the AUD/USD fell to 11-day lows at 0.7550 as the pair was under pressure following weak Chinese trade data. However, according to Nenad Kerkez in the AUD/USD Forecast Poll, the AUD is "being most resilient currency vs USD strength." In addition, the "latest RBA comments may push the price up to 0.7900."
As for the short term, if the pair breaks above 0.7600, it will find next resistances at 0.7615, 0.7640 and 0.7660.
Currently, AUD/USD is trading at 0.7595, down 1.13% on the day, having posted a daily high at 0.7680 and low at 0.7552. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
AUD/USD forecast
Earlier in the day, the AUD/USD fell to 11-day lows at 0.7550 as the pair was under pressure following weak Chinese trade data. However, according to Nenad Kerkez in the AUD/USD Forecast Poll, the AUD is "being most resilient currency vs USD strength." In addition, the "latest RBA comments may push the price up to 0.7900."
As for the short term, if the pair breaks above 0.7600, it will find next resistances at 0.7615, 0.7640 and 0.7660.