AUD USD come slowly to boost
1/11/2017 5:44:41 PM
After Friday's short-term halt, the AUD/USD pair recommenced with its near-term recovery tendency and stayed closer to nearly four week high touched yesterday.
Now trading around 0.7378 area, the pair caught fresh bids on Wednesday as investors appeared to lighten their bullish USD bets ahead of the President-elect Donald Trump’s first news conference post-election, scheduled later during NY session.
Momentum above 0.7387 could get expanded towards 0.7405 handle, on the way 0.7417 persistence and 0.7435 strong hurdle. On the downside, 0.7357 area now becomes instant support below which the pair is likely break below 0.7335 level and head back towards testing sub-0.7305 level, 0.7287 support area.
FOREX Fundamental Analysis
Written by FxErvin