Forex: AUD/USD recovery capped by 1.0565
Forex pairs in this Article »
AUD/USD
FXstreet.com (Córdoba) - After tumbling to a low of 1.0526 during the Asian session in the wake of the Australian CPI, the Aussie managed to erase losses as it climbed steadfastly in European hours supported by the improvement in risk sentiment.
AUDUSD recovered over 40 pips and rose toward the 1.0565 area before finding resistance and pulling back slightly. At time of writing, AUDUSD is trading at the 1.0550 zone, still 0.1% below its opening price.
From a technical view, the Kshitij Consultancy Services Team notes that the pair remains in the 1.0500/600 range and even though the longer term looks quite bullish for the AUDUSD, it would only rise after a firm break above 1.0620.
AUDUSD recovered over 40 pips and rose toward the 1.0565 area before finding resistance and pulling back slightly. At time of writing, AUDUSD is trading at the 1.0550 zone, still 0.1% below its opening price.
From a technical view, the Kshitij Consultancy Services Team notes that the pair remains in the 1.0500/600 range and even though the longer term looks quite bullish for the AUDUSD, it would only rise after a firm break above 1.0620.
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