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1 Jul 2014
AUD/USD outperforms, hits 8-month highs
FXStreet (Córdoba) - The AUD/USD rallied more than half a cent and reached fresh 8-month highs Tuesday as the RBA sounded less dovish than expected and basically reiterated last month’s statement.
Upbeat Chinese PMI also helped to boost the Aussie which reached its highest level since Nov 8 at 0.9462 versus the greenback. However, the AUD/USD has lacked momentum to decisively break above the 0.9460 and settled in a range where it has spent the last hours. At time of writing, the AUD/USD is trading at the 0.9450, recording a 0.21% gain on the day, the fifth in a row.
AUD/USD levels to watch
If the AUD/USD breaks above 0.9462, next resistances could be found at 0.9480 (Nov 8 high) and 0.9500 (psychological level). On the other hand, supports are now seen at 0.9400 (psychological level), 0.9386 (Jun 30 low/20-day SMA) and 0.9353 (Jun 25 low).
Upbeat Chinese PMI also helped to boost the Aussie which reached its highest level since Nov 8 at 0.9462 versus the greenback. However, the AUD/USD has lacked momentum to decisively break above the 0.9460 and settled in a range where it has spent the last hours. At time of writing, the AUD/USD is trading at the 0.9450, recording a 0.21% gain on the day, the fifth in a row.
AUD/USD levels to watch
If the AUD/USD breaks above 0.9462, next resistances could be found at 0.9480 (Nov 8 high) and 0.9500 (psychological level). On the other hand, supports are now seen at 0.9400 (psychological level), 0.9386 (Jun 30 low/20-day SMA) and 0.9353 (Jun 25 low).