AUD/USD firmer, 0.7200 on sight

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Aussie dollar is now gaining further momentum, lifting AUD/USD to fresh tops in the boundaries of 0.7200 the figure.

    AUD/USD boosted by risk

    The risk appetite trends are now spreading into the European markets, with equities opening the session on a firmer note following the upbeat tone in crude oil prices, all helping the pair to recover the ground lost in recent sessions and flirt with 3-week peaks.

    Nothing relevant data wise in Oz today, with the speech by RBA’s Debelle passing largely unnoticed as remarks on monetary policy were absent. Back to the US, Markit’s manufacturing PMI is due along with the National Activity index measured by the Chicago Fed.

    AUD/USD levels to watch

    At the moment the pair is advancing 0.57% at 0.7190 facing the next hurdle at 0.7246 (high Feb.4) followed by 0.7274 (200-day sma) and then 0.7388 (monthly high Dec.4). On the flip side, a break below 0.7117 (20-day sma) would aim for 0.6971 (low Feb.9) and finally 0.6916 (low Jan.26).
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