21 Jan 2014
AUD/USD extends recovery above 0.8830
FXstreet.com (Córdoba) - The AUD/USD rebounded at 0.8800 and rose strongly to the upside, breaking above 0.8825 (January 17 highs) and climbed to 0.8837, reaching levels not seen since the release of the Australian jobs report last Thursday. The Aussie and the Kiwi are so far the best performing currencies on Tuesday.
Yesterday the AUD/USD fell to fresh multi-year lows at 0.8755 and bounced to the upside, but the recovery was capped below 0.8825. After a small pull back in the last hours of Monday, the AUD/USD gained momentum early in Asia and turned to the upside, extending the recovery.
To the upside, immediate resistance lies at 0.8860 (January 9 low) and above at 0.8910 and 0.8935. Potential support levels now lie at the mentioned 0.8825 and below at 0.8790 and 0.8770.
Yesterday the AUD/USD fell to fresh multi-year lows at 0.8755 and bounced to the upside, but the recovery was capped below 0.8825. After a small pull back in the last hours of Monday, the AUD/USD gained momentum early in Asia and turned to the upside, extending the recovery.
To the upside, immediate resistance lies at 0.8860 (January 9 low) and above at 0.8910 and 0.8935. Potential support levels now lie at the mentioned 0.8825 and below at 0.8790 and 0.8770.