AUD USD improving its lost ground
10/24/2016 10:06:14 AM
After declining at 0.7590, the AUD/USD pair managed to improve all of its lost ground and is now extending its recovery momentum more beyond 0.7600 handle.
Currently trading at a fresh session high level near 0.7635, a slight dollar retracement, from multi-month highs, has been a key driver of the pair's recoil from session low. The pair has now erased Friday's loss recorded in the result of disappointing Australian jobs report released on Thursday.
Immediate persistence on the upside is fixed near 0.7650 level, which is closely followed by persistence near 0.7665 area and 0.7685 region. On the downside, decline back below 0.7620 support is likely to drag the pair back below 0.7600 handle and session low support near 0.7590 zone towards testing its next support near 0.7580 region.