AUD/USD breaks above 0.7200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The Australian dollar extended gains versus a broadly weaker greenback, breaking above the 0.72 mark for first in a month.

    AUD/USD built on yesterday’s gains and climbed other 80 pips to a 1-month high of 0.7240 following the release of disappointing US jobless claims data. At time of writing, AUD/USD is trading at 0.7230, recording a 0.89% gain on Thursday.

    AUD/USD levels to watch

    In terms of technical levels, AUD/USD could find next resistances at 0.7240 (Feb 4 high), 0.7300 (Jan 4 high/psychological level) and 0.7332 (200-day SMA). On the downside, short-term supports are seen at 0.7144 (100-day SMA), 0.7070 (10-day SMA) and 0.7002/00 (Feb 3 low/psychological level).
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