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16 Mar 2015
AUD/USD sidelined around 0.7640, RBA minutes awaited
FXStreet (Mumbai) - AUD/USD traded modestly flat in the mid-Asian session, erasing gains and retreating from upbeat Aus vehicles sales numbers as traders remain wary ahead of Reserve Bank of Australia’s (RBA) monetary policy meeting minutes due for release tomorrow.
Weaker USD underpins AUD/USD
Currently, the AUD/USD trades flat at 0.7638 levels, having previously posted day’s high at 0.7659 and day’s low at 0.7615. The Aussie remains muted this morning as traders look for fresh incentives amid a data light Asian session, as the traders now turn their attention towards RBA minutes for further insights on the Oz Central banks future policy course.
Earlier in the session, the Aussie received a boost from impressive vehicle sales figures, which showed that 95,737 new vehicles were sold in February, up 2.9% from January when sales had fallen 1.9%. The better than forecast data pushed the Aussie higher to fresh session highs.
In the day ahead, AUD/USD is likely to remain pressured before the release of US economic data which may provide further dollar moves.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7659 (Today’s High) levels, above which gains could be extended to 0.7700 levels. On the flip side, support is seen at 0.7600 levels from here it to 0.7570 (March 12 Low) levels.
Weaker USD underpins AUD/USD
Currently, the AUD/USD trades flat at 0.7638 levels, having previously posted day’s high at 0.7659 and day’s low at 0.7615. The Aussie remains muted this morning as traders look for fresh incentives amid a data light Asian session, as the traders now turn their attention towards RBA minutes for further insights on the Oz Central banks future policy course.
Earlier in the session, the Aussie received a boost from impressive vehicle sales figures, which showed that 95,737 new vehicles were sold in February, up 2.9% from January when sales had fallen 1.9%. The better than forecast data pushed the Aussie higher to fresh session highs.
In the day ahead, AUD/USD is likely to remain pressured before the release of US economic data which may provide further dollar moves.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7659 (Today’s High) levels, above which gains could be extended to 0.7700 levels. On the flip side, support is seen at 0.7600 levels from here it to 0.7570 (March 12 Low) levels.