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AUD/USD challenges 100-day SMA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - AUD/USD staged an impressive rally on Wednesday as commodity currencies outperformed and the greenback weakened broadly.

    AUD/USD rose nearly 150 pips throughout the day and reached a peak of 0.7143, where the 100-day SMA offered resistance during the American afternoon. At time of writing, AUD/USD is trading at 0.7135, recording a 100-pip, or 1.42%, daily gain.

    AUD/USD levels to watch

    In terms of technical levels, AUD/USD could find next resistances at 0.7143 (Feb 3 high/100-day SMA), 0.7170 (Jan 6 high) and 0.7200 (psychological levels). On the downside, short-term supports are seen at 0.7002/00 (Feb 3 low/psychological level) and 0.6918 (Jan 26 low).
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