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

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The Australian dollar is on recovery mode on Thursday along with other commodity currencies and oil prices.

    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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