AUD/USD clings to gains above 0.7200

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - AUD/USD extended its recovery above the 0.7200 level on Friday, with the Aussie posting moderate gains for a third day out of four this week.

    AUD/USD rose above the 100-day SMA and posted a 2-week high of 0.7219, but failed to break above the 0.7225-30 area with rally losing steam following a 100-pip advance. At time of writing, the pair is trading at 0.7210, recording a 0.25% gain on the day.

    AUD/USD technical levels

    As for technical levels, AUD/USD could find next resistances at 0.7223 (Nov 4 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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