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AUD/USD breaks through key resistance

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - AUD/USD gathered pace and finally broke above the key 0.7225-30 resistance with follow-through lifting the pair to its highest level in 3 weeks.

    AUD/USD broke decisively above the 100-day SMA and stretched to a peak of 0.7249, last seen Oct 27. At time of writing, the pair is trading at 0.7245, recording a 0.74% daily gain, and headed for the second weekly advance in a row.

    AUD/USD levels to watch


    As for technical levels, AUD/USD could find next resistances at 0.7249 (Nov 20 high), 0.7258 (Oct 27 high) and 0.7295 (Oct 23 high). On the flip side, supports could be found at 0.7147 (50-day SMA), 0.7102 (Nov 19 low) and 0.7068 (Nov 18 low).
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