AUD/USD regains 0.7200, hits 2-day high

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    AUD/USD picked up pace and climbed to fresh daily highs above 0.7200 as the greenback weakened across the board at the beginning of the American session.

    Bout of USD-selling sent AUD/USD to a 2-day high of 0.7213. Comments from Fed’s Bullard weighed slightly on the dollar, but overall it has been an uneventful session driven mainly by market sentiment.

    Attention now turns to the release of US January durable goods orders data as the main attraction of the day.

    AUD/USD levels to watch

    AUD/USD is currently trading at 0.7205, a few pips above its opening price. On the upside, next resistances could be faced at 0.7258 (Feb 23 high) and 0.7272 (200-day SMA). On the downside, immediate supports are seen at 0.7153 (100-day SMA), 0.7130 (20-day SMA) and 0.7103/00 (50-day SMA/psychological level).
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