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17 Mar 2014
AUD/USD hits 4-day high
FXStreet (Córdoba) - The AUD/USD extended gains during the European session, helped by the rise in stocks, and having broken above the 100-day SMA it reached a 4-day high in recent dealings.
Even though the AUD opened the week a tad lower, it managed to fill the gap and rose sharply to a high of 0.9085 before losing momentum. At time of writing, the pair is trading at the 0.9070 zone, recording a 0.8% gain Monday. News that the PBOC widened Yuan's trading band from 1% to 2%, helped the Aussie.
AUD/USD levels to watch
In terms of technical levels, if the AUD/USD breaks decisively above 0.9080/85 (Fibo 38.2% Oct'13 – Jan'14 fall), next resistances could be found at 0.9100 (psychological level) and 0.9132 (Mar 7 high). On the other hand, supports are seen at 0.9050 (100-day SMA) and 0.9000/0.8995 (psychological level/Mar 17 low).
Even though the AUD opened the week a tad lower, it managed to fill the gap and rose sharply to a high of 0.9085 before losing momentum. At time of writing, the pair is trading at the 0.9070 zone, recording a 0.8% gain Monday. News that the PBOC widened Yuan's trading band from 1% to 2%, helped the Aussie.
AUD/USD levels to watch
In terms of technical levels, if the AUD/USD breaks decisively above 0.9080/85 (Fibo 38.2% Oct'13 – Jan'14 fall), next resistances could be found at 0.9100 (psychological level) and 0.9132 (Mar 7 high). On the other hand, supports are seen at 0.9050 (100-day SMA) and 0.9000/0.8995 (psychological level/Mar 17 low).