AUD USD Trading News in Forex market 1
7/18/2017 7:04:34 PM
The AUD sustained to increase against its USD in Forex market, with the AUD/USD pair rushing through the 0.7905 handle for the first time since June 2015.
In the meantime, potentials of some big stops getting caused could also be one of the factors behind the pair's continuous rise of nearly 340-pips from sub-0.7615 level touched last Monday.
A strong follow over buying interest beyond 0.7933 area has the possible to keep on raising the pair beyond 0.7957 intermediate persistence towards reclaiming the key 0.8011 psychological mark. On the other hand, any pull-back from higher levels now appears to find immediate support near the 0.7908 handle, below which the corrective slide could get expanded towards 0.7828 horizontal support.
FOREX market analysis by FxErvin.