AUD recoiled to lows versus USD
2/27/2017 5:20:05 PM
The AUD/USD pair cut some of its initial gains and recoiled around 18-pips from session peak level beyond the 0.7695 handle.
At present trading around 0.7697-0.7700 band, the pair achieved some traction during early Asian session on Monday from positive Australian corporate profits data in other wise a slightly silent session.
On the upside, 0.7717 level might keep on to act as immediate persistence, which if cleared might cause a short-covering rally towards 0.7737 persistence, on the way 0.7767 horizontal persistence. Otherwise, decline below 0.7660-63 immediate support now appears to drag the pair towards 0.7713 strong support, below which the downslide is likely to get expanded towards 0.7537 support area with some intermediate support near 0.7585 level.
FOREX market analysis by FxErvin.