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AUD/USD rises to fresh weekly highs, eyes 0.7700

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    AUD/USD broke above previous highs and climbed to 0.7688, hitting the strongest level since April 1. The pair remains near the highs holding a bullish tone supported by a decline of the US dollar across the board amid risk appetite.

    Stocks in Europe finished in positive, with the DAX gaining 0.80% and the FTSE 100 0.68%. In the US, the Dow Jones was up 1.0% and the Nasdaq was rising 0.76%. Crude oil was up more than 4% while gold was flat around $1,255/oz. Commodity currencies were the top performers while the euro was among the worst.

    The pair was holding near the top and to 0.7700. A daily close around current levels or higher would be the strongest since July 2015, but AUD/USD still remains far from 2016 intraday highs that lie at 0.7722 (Mar 31).

    Data ahead

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