6 Feb 2014
AUD/USD threatens 3-week highs
FXStreet (Córdoba) - The AUD/USD has resumed the upside amid broad dollar weakness following disappointing US trade data.
The AUD/USD was underpinned by better-than-expected Australian trade balance and reached a 3-week high of 0.8980 during the Asian session but lost momentum and retreated. However, pair found support at the 0.8940 zone and bounced to retest daily highs, although the 0.8980 area continues to offer firm resistance. At time of writing, the AUD/USD is trading at the 0.8970 zone, recording a 0.7% gain Thursday.
AUD/USD technical levels
As for technical levels, the AUD/USD could find immediate resistances at 0.8980 (Feb 6 high), 0.9000 (psychological level) and 0.9057 (Jan 14 high). On the downside, supports are seen at 0.8920 (50-day SMA), 0.8908 (Feb 6 low) and 0.8873 (Feb 5 low).
The AUD/USD was underpinned by better-than-expected Australian trade balance and reached a 3-week high of 0.8980 during the Asian session but lost momentum and retreated. However, pair found support at the 0.8940 zone and bounced to retest daily highs, although the 0.8980 area continues to offer firm resistance. At time of writing, the AUD/USD is trading at the 0.8970 zone, recording a 0.7% gain Thursday.
AUD/USD technical levels
As for technical levels, the AUD/USD could find immediate resistances at 0.8980 (Feb 6 high), 0.9000 (psychological level) and 0.9057 (Jan 14 high). On the downside, supports are seen at 0.8920 (50-day SMA), 0.8908 (Feb 6 low) and 0.8873 (Feb 5 low).