4 Mar 2015
AUD/USD reaches 6-day high
FXStreet (Córdoba) - AUD/USD spiked to a 6-day high at the beginning of the American session despite US ADP employment report came in mainly in line with expectations.
The Australian dollar continues to benefit from RBA decision to stay on hold against expectations of a rate cut and following data which showed Aus GDP grew 0.5% in Q4, in line with expectations.
AUD/USD has risen more than 100 pips over the last sessions and reached a weekly peak of 0.7860 in recent dealings. However, the pair failed to break above that level and pulled back to currently trade around 0.7843, 0.36% above its opening price.
AUD/USD technical levels
In terms of technical levels, AUD/USD could find immediate resistances at 0.7860 (daily high), 0.7900 (psychological level) and 0.7912 (Feb 26 high). On the other hand, supports are seen at 0.7795 (daily low/21-day SMA), 0.7750 (Mar 3 low) and 0.7719 (Jan 29 low).
The Australian dollar continues to benefit from RBA decision to stay on hold against expectations of a rate cut and following data which showed Aus GDP grew 0.5% in Q4, in line with expectations.
AUD/USD has risen more than 100 pips over the last sessions and reached a weekly peak of 0.7860 in recent dealings. However, the pair failed to break above that level and pulled back to currently trade around 0.7843, 0.36% above its opening price.
AUD/USD technical levels
In terms of technical levels, AUD/USD could find immediate resistances at 0.7860 (daily high), 0.7900 (psychological level) and 0.7912 (Feb 26 high). On the other hand, supports are seen at 0.7795 (daily low/21-day SMA), 0.7750 (Mar 3 low) and 0.7719 (Jan 29 low).