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AUD/USD keeps pushing higher, tests 0.7330

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The bid tone around the Aussie dollar is gathering further traction today, now lifting AUD/USD to extend its recent break above the 0.7300 handle.

    AUD/USD in 3-month highs

    Spot is trading in levels last seen in December 2015 following a fresh wave of buying interest around both Antipodean currencies, with the Kiwi dollar also in session highs vs. the greenback around the 0.6700 handle.

    AUD has found support following auspicious results from the trade balance figures in Oz during January, quickly leaving behind the lower-than-expected Caixin Services PMI in China.

    AUD/USD levels to watch

    At the moment the pair is up 0.57% at 0.7333 with the next hurdle at 0.7388 (monthly high Dec.4 2015) followed by 0.7400 (psychological level) and then 0.7441 (monthly high Aug.11). On the flip side, a break below 0.7254 (200-day sma) would aim for 0.7160 (20-day sma) and finally 0.7118 (55-day sma).
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