AUD/USD: Aussie strengthens further; Approaches 0.7500

Australian Dollar has appreciated further on Tuesday’s European session, and the pair has risen from levels around 0.7400 to 0.7475; 7-month high; approaching 0.7480 38.20% Fib retracement of the Jul-Oct decline.

Resistance levels remain at the mentioned 0.7480/0.7500 and above there, 0.7750 and 0.7835. On the downside, support levels lie at 0.7365, and below there, 0.7340 and 0.7255.

The Kshitij Consultancy Service Team observes the Aussie climbing towards levels around 0.77/0.78 in the medium term: “However the view of a rise towards 0.77-0.78 over the medium term is still intact. But if the Resistance in Gold at 910 holds, we might have to have a fresh look. However, for now, the pair might be ranged near the 0.75 region before it breaks loose as it awaits some event which intuition suggests at the moment.”