AUD/USD: Daily Technical Analysis For March 02, 2016

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Fundamental Analysis:

The Australian dollar gained strength against the greenback in today’s trading session after the Reserve Bank of Australia left its benchmark Interest rate left unchanged at 2.00% in today’s meeting.


Technical Analysis:

Intra-day bias remains on the upside as 21 and 55 EMA remains crossed northward with SSRC oscillator signalling a continuation of the bullish momentum after price rejected 0.7124/0.7107 demand zones. A confirm break of 0.7190 resistance should bring more rise to 0.7215 (weekly resistance 1).


Later today investors would be monitoring the Australian GDP q/q set to be released during the Australian session.

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