Back
8 Jan 2014
AUD/USD bounces sharply and hits fresh highs
FXstreet.com (Córdoba) - The AUD/USD picked up momentum and rose to fresh daily highs at the beginning of the American session as the ADP-inspired USD strength faded quickly.
The AUD/USD fell to the 0.8910 area immediately after the ADP report release only to bounce strongly toward fresh daily highs at the 0.8950 region. At time of writing, AUD/USD is trading a few away today's peak, still recording a 0.3% gain on the day.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could face immediate resistances at 0.8950 (daily high), 0.8970 (Jan 7 high) and 0.9000 (psychological level). On the flip side, supports are seen at 0.8900 (psychological level/daily low) and 0.8884 (Jan 3 low) ahead of 0.8842 (Jan 2 low).
The AUD/USD fell to the 0.8910 area immediately after the ADP report release only to bounce strongly toward fresh daily highs at the 0.8950 region. At time of writing, AUD/USD is trading a few away today's peak, still recording a 0.3% gain on the day.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could face immediate resistances at 0.8950 (daily high), 0.8970 (Jan 7 high) and 0.9000 (psychological level). On the flip side, supports are seen at 0.8900 (psychological level/daily low) and 0.8884 (Jan 3 low) ahead of 0.8842 (Jan 2 low).