AUD is boosting for several week versus USD
3/20/2017 9:51:32 AM
According Forex market, the AUD/USD pair was improving last week's strong gains and expanded its up-move more over the 0.7705 handle to fresh 3 week tops.
Currently trading around 0.7727 band, insistent bearish sentiment nearby the dollar, with the USD Index hitting the lowest level in over five weeks, helped the pair to preserve strong bid tone for 3rd session in the previous four.
Momentum above yearly highs persistence near 0.7745 level now appears to improve the pair beyond Nov. 2016 highs persistence near 0.7777 area towards regaining the 0.7800 handle for the first time since April 2016.
On the downside, retracement back below 0.7705 round figure mark is probable to speed up the slide back towards 0.7660 support area ahead of 0.7623 important support.
FOREX market analysis by FxErvin.