AUD Recoiled from growth versus USD
6/16/2017 2:26:54 PM
According to Forex market activities, the AUD/USD pair retreated all of its early up-move and now appears to have confronted refusal near the 0.7610 handle.
Additionally, a quiet action around commodity space did little to expand any support to the commodity-linked currencies and pulled the pair back to the lower end of daily trading range, around 0.7577 area.
A search over retracement near 0.7557 area is probable to find support at the very significant 180-day EMA near 0.7528 area, which if broken could take the pair back towards the key 0.7503 psychological mark.
On the upside, the 0.7610 handle stays immediate hurdle, which if conquered now appears to boost the pair beyond several month highs persistence near 0.7633 area on the way 0.7677 hurdle.
FOREX market analysis by FxErvin.