AUD Revive from lows versus USD
8/16/2017 7:11:58 PM
During Forex market activities, the AUD/USD pair presented a decent recovery and currently trading around the 0.7843 area.
A follow through recovery now appears to provoke some fresh supply near the 0.7877-87 area, a bout of short covering could boost the pair beyond the 0.7905 handle towards its next hurdle near 0.7923 area.
On the other hand, decline back below 0.7818 level might keep on to find some support near the 0.7810 handle, which if broken would turn the pair at risk to aim towards testing 80-day EMA support near mid-0.7711s.
FOREX market analysis by FxErvin.