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27 Apr 2015
AUD/USD breaks above 0.7850 and trades at 1-month highs
FXStreet (Tokyo) - After climbing over 60 pips from 0.7800, the AUD/USD is now trading at levels not seen since March 26 at 0.7865. AUD/USD is enjoying the USD weakness across the market following US weak data.
Currently, AUD/USD is trading at 0.7856, up 0.39% on the day, having posted a daily high at 0.7869 and low at 0.7792. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
AUD/USD Forecast
According to Anil Panchal from Admiral Markets, the weekly close above 0.7800 "could only confirm the pair's rally towards 0.8000. Rest it could reverse to 0.7600 soon."
As for the short term, if the pair consolidates levels above 0.7850, it will find next resistances at 0.7900 and 0.7940. To the downside, supports are at 0.7850, 0.7800 and 0.7770.
Currently, AUD/USD is trading at 0.7856, up 0.39% on the day, having posted a daily high at 0.7869 and low at 0.7792. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
AUD/USD Forecast
According to Anil Panchal from Admiral Markets, the weekly close above 0.7800 "could only confirm the pair's rally towards 0.8000. Rest it could reverse to 0.7600 soon."
As for the short term, if the pair consolidates levels above 0.7850, it will find next resistances at 0.7900 and 0.7940. To the downside, supports are at 0.7850, 0.7800 and 0.7770.