AUD/USD in recovery, now awaits Trump

Currently, AUD/USD is trading at 0.7360, down -0.13% on the day, having posted a daily high at 0.7398 and low at 0.7352.

AUD/USD is stable after a drop to the mid point of the 0.73 handle when the pair lost traction yesterday from 0.7380 with momentum turning lower and stops triggered to the downside. However, analysts at ANZ are more optimistic, "When combined we think the current environment of a negative risk premium, conservative valuation, solid global growth, lower volatility and rising liquidity should be sufficient to drive the AUD back towards its range highs."

We now await Trump as the next major catalyst for the greenback: US: Trump’s press conference in the limelight - TDS

AUD/USD levelsSpot is presently trading at 0.7361, and next resistance can be seen at 0.7363 (Daily Classic PP), 0.7370 (Weekly High), 0.7371 (Daily Open), 0.7377 (Hourly 20 EMA) and 0.7386 (Weekly Classic R1). Support below can be found at 0.7356 (YTD High), 0.7352 (Daily Low), 0.7343 (Hourly 100 SMA), 0.7338 (Daily Classic S1) and 0.7331 (Yesterday's Low).

 

 

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