Today the pair continued growing and reached the level of 0.7665 amid commentaries from the Reserve Bank of Australia on its . In its statement, the regulator noted that the pace of growth of the world economy remain below the average while will stay below the targeted 2%-3%. Nonetheless, the regulator did not revise its economy growth forecast, which supported the AUD.
Today attention should be paid to data on the Nonfarm Payrolls in the US. According to forecasts, the figure will come out at 180 thousands. In case the actual data exceeds forecasts, the US Dollar might receive a significant support.
Support and resistance
The pair continues moving along the , trading near a strong of 0.7675.
Technical indicators suggest a growth continuation. are directed up. is in the overbought zone and continues growing.
Support levels: 0.7620, 0.7550, 0.7500.
Resistance levels: 0.7675, 0.7720, 0.7765, 0.7800.
Long positions can be opened after the breakout of the level of 0.7680 with targets at 0.7720, 0.7760 and stop-loss at 0.7650.
Short positions can be opened from the level of 0.7620 with targets at 0.7550, 0.7500 and stop-loss at 0.7650.