AUD/USD Signal Update
No signals were given yesterday.
Today’s AUD/USD Signals
No specific signals are given today.
AUD/USD Analysis
We remain in a situation where the closest key support and resistance levels are so far away from the current price that there is no point in giving any precise signals today. Key support is at 0.7398 and key resistance is at 0.7860.
The Australian Dollar still looks bullish, and a demonstration of this could be seen during the early London session today when news of the attacks in Brussels broke. The USD strengthened everywhere, as is common in moments of crisis such as this, but the Australian Dollar bounced back more quickly and more strongly than any other currency, and this pair is currently trading at a price that is roughly where it was during the late Asian session earlier.
Although the price did spike down to a possible minor demand area around 0.7550, there may need to be a deeper pullback before the price really takes off bullishly again. Nevertheless, a move up above 0.7600 could well start from here now.
There is also some minor resistance at around 0.7625, and if that is taken out with force by any forthcoming upwards thrust, it would be a strongly bullish sign.
We might need to wait until tomorrow when there will finally be some key U.S. economic data released for things to get moving with this pair.
There is nothing due today concerning either the USD or the AUD.