FXStreet (Mumbai) – The Australian dollar bounced-off fresh six-year lows and trades modestly flat versus the US dollar in the early Asian trades, with AUD/USD back above 0.75 handle. The Aussie recovered most overnight losses, although remains pressured amid Greek woes while traders shrugged off the latest upbeat Aus jobs ads data released today.
AUD/USD recovers from 0.7463
Currently, the AUD/USD pair trades almost unchanged at 0.7511, having posted fresh six year lows at 0.7463 in overnight trades. The pair extends its recovery; filling up the overnight gap, as Asian traders seems to be little affected by the Greek referendum.
Although markets remain cautious weighing the possible outcomes of this ‘No’ vote victory for the Greek government with the European leaders now rushing for an emergency solution as Grexit and ECB bankruptcy looms.
While the Aussie was unresponsive to the better than expected Australia’s jobs advertisements data released during last hours. Australia Job Advertisements reported by ANZ rose from previous 0% to 1.3% in June.
Meanwhile, markets will now shift their focus on tomorrow’s RBA’s cash rate decision following the recent series of dismal Aus fundamentals while Fed minutes also will be closely eyed.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7550 levels, above which gains could be extended to 0.7600 levels. On the flip side, support is seen at 0.7486 (Today’s Low) levels from here it to 0.7463 (July 5 Low) levels.
(Market News Provided by FXstreet)