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7 Mar 2014
AUD/USD reaches 3-month highs
FXStreet (Córdoba) - The AUD/USD picked up renewed momentum and extended gains into a fifth day Friday, reaching its highest level in 3 months during the European session.
The AUD/USD managed to broke above the 0.9100 mark despite RBA Stevens jawboning. The Governor said earlier that a level above 0.9000 was too high. At time of writing, the AUD/USD is trading at the 0.9125 area, recording a 0.4% gain on the day, having hit a 3-month high of 0.9128 in recent dealings.
The Australian dollar has rallied more than 230 pips this week, underpinned by better risk sentiment, RBA decision to leave policy unchanged and solid domestic data.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could find immediate resistances at 0.9128 (Mar 7 high), 0.9173 (200-day SMA) and 0.9200 (psychological level). On the downside, supports are seen at 0.9090 (100-day SMA), 0.9067 (Mar 7 low) and 0.9000 (psychological level/20-day SMA).
The AUD/USD managed to broke above the 0.9100 mark despite RBA Stevens jawboning. The Governor said earlier that a level above 0.9000 was too high. At time of writing, the AUD/USD is trading at the 0.9125 area, recording a 0.4% gain on the day, having hit a 3-month high of 0.9128 in recent dealings.
The Australian dollar has rallied more than 230 pips this week, underpinned by better risk sentiment, RBA decision to leave policy unchanged and solid domestic data.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could find immediate resistances at 0.9128 (Mar 7 high), 0.9173 (200-day SMA) and 0.9200 (psychological level). On the downside, supports are seen at 0.9090 (100-day SMA), 0.9067 (Mar 7 low) and 0.9000 (psychological level/20-day SMA).