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AUD/USD upside halted ahead of 0.71

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The now softer tone around the greenback is allowing AUD/USD to advance further today, testing highs in the upper-0.70s.

    AUD/USD in 3-week peaks

    Spot is advancing to 3-week highs in the proximity of the 0.7100 handle, posting gains for the third consecutive session so far and bolstered by the generalized offered tone hitting the dollar at the moment.

    Next on tap, US Initial Claims are due later, seconded by Pending Home Sales and Durable Goods Orders, while second-tier releases in Oz will see Private Sector Credit figures and Producer Prices.

    AUD/USD relevant levels

    As of writing the pair is up 0.67% at 0.7075 facing the next resistance at 0.7149 (100-day sma) followed by 0.7332 (high Dec.31) and then 0.7348 (200-day sma). On the other hand, a breach of 0.6916 (low Jan.26) would aim for 0.6873 (low Jan.21) and finally 0.6825 (low Jan.20).
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