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18 Oct 2013
AUD/USD records third consecutive weekly gain
FXstreet.com (Córdoba) - The Australian dollar is among the top performers on track to close the week above 0.9650 with a 2.6% gain versus the dollar.
The AUD/USD extended gains Friday and reached a fresh 4 ½-month high at 0.9676 before settling just below during the New York trade amid lack of indicators or headlines. Not even RBA Governor Stevens words, who said overnight that a lower AUD would help the economy, was enough to halt the rally. AUD/USD is currently trading at the 0.9660 area, having recovered more than 800 pips from August low at 0.8845.
AUD/USD technical levels
On the upside, immediate resistances are seen at 0.9676 (daily high), 0.9700 (psychological level) and 0.9760 (200-day SMA) while on the downside, supports could be found at 0.9605 (daily low) and 0.9560 (100-hour SMA).
The AUD/USD extended gains Friday and reached a fresh 4 ½-month high at 0.9676 before settling just below during the New York trade amid lack of indicators or headlines. Not even RBA Governor Stevens words, who said overnight that a lower AUD would help the economy, was enough to halt the rally. AUD/USD is currently trading at the 0.9660 area, having recovered more than 800 pips from August low at 0.8845.
AUD/USD technical levels
On the upside, immediate resistances are seen at 0.9676 (daily high), 0.9700 (psychological level) and 0.9760 (200-day SMA) while on the downside, supports could be found at 0.9605 (daily low) and 0.9560 (100-hour SMA).