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9 Apr 2013
Forex: AUD/USD rises above 1.0500
FXstreet.com (Córdoba) - The Australian dollar has continued to move higher against the greenback and pierced the 1.0500 level to score a fresh 11-week high as US stocks reach intraday peaks.
Having climbed over 90 pips throughout the day, AUD/USD recently hit its highest since Jan 24 at 1.0506. At time of writing, the pair is trading around 1.0500/05, up 0.9% on the day.
As for technical levels, if AUD/USD breaks decisively above 1.0500/10, next resistances are seen at 1 1.0555 (Jan 24 high) and 1.0580. On the other hand, supports in case of dips could be faced at 1.0450 (20-hour SMA), 1.0420 (100-hour SMA) and 1.0400 (psychological level).
Having climbed over 90 pips throughout the day, AUD/USD recently hit its highest since Jan 24 at 1.0506. At time of writing, the pair is trading around 1.0500/05, up 0.9% on the day.
As for technical levels, if AUD/USD breaks decisively above 1.0500/10, next resistances are seen at 1 1.0555 (Jan 24 high) and 1.0580. On the other hand, supports in case of dips could be faced at 1.0450 (20-hour SMA), 1.0420 (100-hour SMA) and 1.0400 (psychological level).