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AUD/USD surpasses October’s highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The Australian dollar strengthened at the beginning of the NY session and is among the best performers on Friday, underpinned by solid gains in gold and other metals.

    AUD/USD picked up pace and broke through October highs, climbing to its strongest level in more than three months. Having peaked at 0.7385, AUD/USD is currently trading at 0.7375, recording a 0.49% gain on Friday and headed for a sharp weekly gain.

    AUD/USD bounced from a low of 0.7279 that was set as the knee-jerk reaction to the US employment report, but quickly turned higher, rallying nearly 100 pips over the last hours.

    AUD/USD key levels

    In terms of technical levels, a decisive break above the 0.7381/85 area (Oct 12, Dec 4 high) would pave the way toward and 0.7400 (psychological level) en-route to 0.7438 (monthly high Aug 2015). On the other hand, supports are seen at 0.7283 (Dec 3 low), 0.7262 (10-day SMA) and 0.7221 (Dec 1 low).
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