Back
10 Jun 2014
AUD/USD hits fresh 1-month highs
FXStreet (Córdoba) - Following a short-lived correction, the AUD/USD has resumed the upside at the beginning of the American session and is printing fresh 1-month highs, underpinned by gold gains.
The AUD/USD broke above the 0.9375 resistance area and extended gains to its highest level in 4 weeks at 0.9383 ahead of the Wall Street bell as the greenback eases across the board. At time of writing, the AUD/USD is trading at 0.9380, recording a 0.28% gain on the day.
“From a fundamental perspective it feels as though Asian central banks have been happier of late to plow reserves into AUD, owing to its higher yield, at a greater degree than into EUR”, says Jamie Coleman, analyst at FXBeat.
AUD/USD levels to watch
In terms of technical levels, next resistances levels are seen at 0.9400 (psychological level), 0.9408 (May 14 high) and 0.9425 (Apr 11 high). On the flip side, supports could be found at 0.9340 (Jun 10 low), 0.9318 (Jun 6 low) and 0.9300 (psychological level).
The AUD/USD broke above the 0.9375 resistance area and extended gains to its highest level in 4 weeks at 0.9383 ahead of the Wall Street bell as the greenback eases across the board. At time of writing, the AUD/USD is trading at 0.9380, recording a 0.28% gain on the day.
“From a fundamental perspective it feels as though Asian central banks have been happier of late to plow reserves into AUD, owing to its higher yield, at a greater degree than into EUR”, says Jamie Coleman, analyst at FXBeat.
AUD/USD levels to watch
In terms of technical levels, next resistances levels are seen at 0.9400 (psychological level), 0.9408 (May 14 high) and 0.9425 (Apr 11 high). On the flip side, supports could be found at 0.9340 (Jun 10 low), 0.9318 (Jun 6 low) and 0.9300 (psychological level).