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AUD/USD extends recovery to near 0.7000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The Australian dollar is on recovery mode on Thursday along with other commodity currencies and oil prices.

    AUD/USD
    bounced from daily lows at the 0.6875 area and climbed more than 100 pips over the last hours, hitting a fresh 6-day high of 0.6977 in recent dealings. At time of writing, the pair is trading at 0.6968, recording a 0.91% gain on the day, and extending its comeback from multi-year lows scored last week.

    AUD/USD technical levels

    In terms of technical levels, AUD/USD could find immediate resistances are seen at 0.7000 (Jan 15 high/psychological level) and 0.7085 (Jan 7 high), while supports are seen at 0.6826 (7-year low, Jan 15), 0.6855 (Apr 2009 monthly low) and 0.6800 (psychological level).
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