Current trend
Today the AUD/USD pair is growing due to the positive National Australia Bank's Business Confidence publication. The report reflects the country’s economy development dynamics in general in the short term. A growth in the indicator strengthens the AUD. National Australia Bank's Business Conditions, which is the short-term indicator of the general state of the economy, has also increased, which affected the national currency positively, too.
Today the traders should pay attention to the FOMC Member Brainard Speech, and the market is waiting for the two days Fed's Yellen testifies in the US Congress on Wednesday and Thursday.
Support and resistance
Support levels: 0.7600, 0.7570, 0.7530, 0.7500.
Resistance levels: 0.7630, 0.7690, 0.7730, 0.7660.
Trading tips
Long positions can be opened at the current price with the target at 0.7690 and stop loss at 0.7580. Implementation period: 1-3 days.
Short positions can be opened from the level of 0.7560 with the target at 0.7500 and stop loss at 0.7600. Implementation period: 3-5 days.
Today the AUD/USD pair is growing due to the positive National Australia Bank's Business Confidence publication. The report reflects the country’s economy development dynamics in general in the short term. A growth in the indicator strengthens the AUD. National Australia Bank's Business Conditions, which is the short-term indicator of the general state of the economy, has also increased, which affected the national currency positively, too.
Today the traders should pay attention to the FOMC Member Brainard Speech, and the market is waiting for the two days Fed's Yellen testifies in the US Congress on Wednesday and Thursday.
Support and resistance
Support levels: 0.7600, 0.7570, 0.7530, 0.7500.
Resistance levels: 0.7630, 0.7690, 0.7730, 0.7660.
Trading tips
Long positions can be opened at the current price with the target at 0.7690 and stop loss at 0.7580. Implementation period: 1-3 days.
Short positions can be opened from the level of 0.7560 with the target at 0.7500 and stop loss at 0.7600. Implementation period: 3-5 days.