Back
30 Dec 2014
AUD/USD reaches 11-day high
FXStreet (Córdoba) - The Australian dollar picked up momentum and climbed to fresh daily highs during the European session, showing resilience despite falling Asian stocks amid weak risk appetite and the fall in oil pressuring commodities prices.
AUD/USD went through a consolidation phase during Asian hours, supported by the 100-hour SMA on the downside, and then turned higher, accelerating on the break of 0.8140. The pair has risen over half a cent over the last hours to reach an 11-day high of 0.8177. At time of writing, Aussie is trading at 0.8170, recording a 0.55% gain on the day.
AUD/USD levels to watch
In terms of technical levels, AUD/USD could find immediate resistances at 0.8191 (Dec 19 high), 0.8200/02 (psychological level/Dec 18 high) and 0.8240 (21-day SMA). On the flip side, supports are seen at 0.8121 (daily low), 0.8108 (Dec 26 low) and 0.8087 (2014 low Dec 23).
AUD/USD went through a consolidation phase during Asian hours, supported by the 100-hour SMA on the downside, and then turned higher, accelerating on the break of 0.8140. The pair has risen over half a cent over the last hours to reach an 11-day high of 0.8177. At time of writing, Aussie is trading at 0.8170, recording a 0.55% gain on the day.
AUD/USD levels to watch
In terms of technical levels, AUD/USD could find immediate resistances at 0.8191 (Dec 19 high), 0.8200/02 (psychological level/Dec 18 high) and 0.8240 (21-day SMA). On the flip side, supports are seen at 0.8121 (daily low), 0.8108 (Dec 26 low) and 0.8087 (2014 low Dec 23).