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AUD/USD in fresh highs near 0.6970

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The Aussie dollar is extending its march higher on Thursday, now lifting AUD/USD to the area of session highs around 0.6970.

    AUD/USD boosted by jobs data

    Auspicious results from the labour market in Oz keep sustaining the upside momentum around AUD so far, managing to bounce off the 0.6915/10 band to the current daily tops near 0.6970.

    In the meantime, spot seems to be carving a base just below the psychological 0.70 figure, while developments in China, commodities’ performance and USD-dynamics via Fed’s prospects of rate hikes will remain the exclusive drivers behind the pair’s price action for the next periods.

    AUD/USD important levels

    As of writing the pair is up 0.09% at 0.6973 facing the next resistance at 0.7125 (4-month uptrend prev. support now resistance) ahead of 0.7175 (55-day sma) and then 0.7385 (200-day sma). On the other hand, a breakdown of 0.6893 (2015 low Sep.7) would expose 0.6854 (monthly low April 2009) and finally 0.6283 (monthly low March 2009).
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