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18 Oct 2013
AUD/USD eases from fresh highs
FXstreet.com (Córdoba) - The AUD/USD extended gains and reached its highest in 4 ½ months Friday, underpinned by broad USD weakness and strong Chinese data.
The Australian dollar has continued to strengthen despite RBA Governor Stevens words, who said overnight that a lower AUD would help the economy. AUD/USD has broken above 0.9650 and remains among the top performers in the FX market, having recovered more than 800 pips from August low at 0.8845.
AUD/USD levels to watch
At time of writing, AUD/USD is trading at 0.9655, 0.2% above its opening price, having scored a high of 0.9676. On the upside, immediate resistances are seen at 0.9676 (daily high), 0.9700 (psychological level) and 0.9760 (200-day SMA). On the downside, supports could be found at 0.9605 (daily low) and 0.9550 (100-hour SMA).
The Australian dollar has continued to strengthen despite RBA Governor Stevens words, who said overnight that a lower AUD would help the economy. AUD/USD has broken above 0.9650 and remains among the top performers in the FX market, having recovered more than 800 pips from August low at 0.8845.
AUD/USD levels to watch
At time of writing, AUD/USD is trading at 0.9655, 0.2% above its opening price, having scored a high of 0.9676. On the upside, immediate resistances are seen at 0.9676 (daily high), 0.9700 (psychological level) and 0.9760 (200-day SMA). On the downside, supports could be found at 0.9605 (daily low) and 0.9550 (100-hour SMA).