AUD/USD reaches new highs above 0.7600

The fall of the us dollar on all fronts pushed the pair AUD/USD to break above 0.7600, for the first time since the 4 of April.

It reached a peak of 0.7609 and then declined modestly. Until now it has been unable to make a rally above 0.7600, but still with a bullish tone. From the beginning of the week, the pair AUD/USD has been moving with an upward bias, continuing with the movements of the last week.

Later during the day, the data of the EE.US showed a lower reading than expected in the manufacturing index of the empire, which fell from 16.4 to 5.2. On Tuesday, the key event for the pair will be the publication of the minutes of the last meeting of the Reserve Bank of Australia (RBA).

Technical perspective

A consolidation above 0.7600, you could add support for an extension to the upside. The next area of resistance could be located at 0.7635/40, followed by 0.7680 (maximum of 30 march). The bullish tone likely to remain in force as long as the price remains above the moving average of 20 periods in the 4 hours chart, that is situated in 0.7565;

Below the line above-mentioned, the australian is likely to lose strength. The support levels below are at 0.7540 / 45 (April 4), 0.7515 (April 11) and 0.7475 (April).

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