AUD USD rushed through high
1/17/2017 1:27:05 PM
The session fell low at 0.7467 level during formex market activities, the AUD/USD pair recovered traction and rushed through 0.7515 psychological mark to the highest level since Nov. 16.
Currently trading around 0.7525 area, off around 15-pips, mostly weaker dollar, seeking a decline in the US Treasury bond yields, helped the pair to ultimately break through the very important 200-day SMA barrier.
Instant weakness support is fixed at 200-day SMA near 0.7505 psychological mark, which if broken is likely to drag the pair back towards 0.7477 horizontal support ahead of 0.7455 support area. On the upside, momentum above session peak persistence near 0.7537 area is likely to get extended towards 0.7567 persistence area before the pair tries a move towards 0.7625 round figure mark.
FOREX Fundamental Analysis
Written by FxErvin