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25 Feb 2015
AUD/USD gearing up for 0.7900
FXStreet (Edinburgh) - The better risk-on sentiment on Wednesday is pushing AUD/USD to the boundaries of 0.7900 the figure.
AUD/USD in multi-week highs
The pair is trading in levels last seen in late January, looking for a convincing break above the 0.7900 handle. A softer dollar is bosting the high-beta currencies today, ahead of the second testimony of J.Yellen, although market expectations for further fireworks are quite flat.
Data wise in Oz, Construction Work Done contracted less than expected 0.2% during the last three months of 2014. Next of relevance will be tomorrow’s CapEx figures for the fourth quarter (-1.9% exp,).
AUD/USD levels to watch
The pair is now up 0.77% at 0.7891 with the immediate resistance at 0.7907 (high Jan.29) ahead of 0.8000 (psychological handle) and then 0.8026 (high Jan.28). On the flip side, a dip below 0.7800 (psychological level) would target 0.7721 (low Feb.13) en route to 0.7700 (psychological level).
AUD/USD in multi-week highs
The pair is trading in levels last seen in late January, looking for a convincing break above the 0.7900 handle. A softer dollar is bosting the high-beta currencies today, ahead of the second testimony of J.Yellen, although market expectations for further fireworks are quite flat.
Data wise in Oz, Construction Work Done contracted less than expected 0.2% during the last three months of 2014. Next of relevance will be tomorrow’s CapEx figures for the fourth quarter (-1.9% exp,).
AUD/USD levels to watch
The pair is now up 0.77% at 0.7891 with the immediate resistance at 0.7907 (high Jan.29) ahead of 0.8000 (psychological handle) and then 0.8026 (high Jan.28). On the flip side, a dip below 0.7800 (psychological level) would target 0.7721 (low Feb.13) en route to 0.7700 (psychological level).