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AUD/USD in fresh highs near 0.7500

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The bullish momentum around the Aussie dollar remains unabated so far, now lifting AUD/USD to the boundaries of 0.7500 the figure.

    AUD/USD in multi-month peaks

    The pair continues its march north today, visiting levels last traded in July 2015 around the 0.7500 neighbourhood bolstered by a solid sentiment around the riskier assets and a recovery in the commodity space.

    AUD is thus extending the very auspicious start of the year, posting gains in six out of ten weeks and regaining around 7 cents since January’s troughs around the 0.6800 handle.

    AUD/USD levels to watch

    At the moment the pair is gaining 0.76% at 0.7492 facing the next hurdle at 0.7506 (monthly high Jul.10 2015) followed by 0.7851 (monthly high Jun.18 2015) and then 0.7940 (monthly high Mar.24 2015). On the other hand, a drop below 0.7250 (200-day sma) would aim for 0.7237 (20-day sma) and finally 0.7160 (100-day sma).
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