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AUD/USD rises to test 100-day SMA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - AUD/USD picked up momentum and rose to fresh daily highs, reversing more than half of yesterday’s losses.

    AUD/USD bounced from lows and climbed nearly 70 pips over the last hours to test the 100-day SMA at 0.7183 in recent dealings. Still capped by that level, AUD/USD is currently trading at 0.7180, up 0.74% on the day.

    AUD/USD levels to watch

    As for technical levels, if AUD/USD breaks above 0.7183 (100-day SMA), next resistances are seen at 0.7200 (50-day SMA/psychological level) and then 0.7245 (Dec 17 high). On the other hand, supports could be faced at 0.7111 (Dec 18 low), 0.7095 (Dec 17 low) and 0.7068 (Nov 18 low).
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