6 May 2014
AUD/USD jumps above 0.9350 to 2-week highs
FXStreet (San Francisco) - The Aussie is extending advances against the US Dollar as the Greenback is under pressure on risk appetite and stop triggering around 0.9310 and 0.9330.
In addition, the AUD is trading on bullish tone amid the RBA decision to keep rates on hold.
Currency market is trading on risk appetite as European PMIs showed better than expected numbers and investors are assuming Mario Draghi wouldn't announce new measures on Thursday's ECB meeting.
The AUD/USD broke above the 0.9350 level to price at 0.9360, nearly 2-week high. Currently, AUD/USD is trading at 0.9358, up 0.91% on the day, having posted a daily high at 0.9362 and low at 0.9270.
The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
AUD/USD levels
According to Matt Bacon-Hall, FXBeat Editor, there are importer offers around 0.9360-80 that would fuel the pair to the upside. Above that, the AUD/USD would face resistances at 0.9375 and 0.9390.
On the downside, 0.9350, 0.9315 and 0.9300 are supports.
In addition, the AUD is trading on bullish tone amid the RBA decision to keep rates on hold.
Currency market is trading on risk appetite as European PMIs showed better than expected numbers and investors are assuming Mario Draghi wouldn't announce new measures on Thursday's ECB meeting.
The AUD/USD broke above the 0.9350 level to price at 0.9360, nearly 2-week high. Currently, AUD/USD is trading at 0.9358, up 0.91% on the day, having posted a daily high at 0.9362 and low at 0.9270.
The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
AUD/USD levels
According to Matt Bacon-Hall, FXBeat Editor, there are importer offers around 0.9360-80 that would fuel the pair to the upside. Above that, the AUD/USD would face resistances at 0.9375 and 0.9390.
On the downside, 0.9350, 0.9315 and 0.9300 are supports.