AUD/USD up to critical resistance levels through the 200 dma on 0.75 handle
|Currently, AUD/USD is trading at 0.7548, up 0.97% on the day, having posted a daily high at 0.7564 and low at 0.7465.
AUD/USD has picked up the pace through the midpoint of the 0.75 handle, reaching aforementioned highs. The price has crucially popped through the 200 dma at 0.7501 as well, making for fresh 2017 highs and breaking the December highs of 0.7548 at this juncture and meeting the late October lows - indeed we are at a significant level here. The greenback is unwinding across the board and the Brexit fears have abridged to some degree by PM May's speech today, aiding a recovery in risk ahead of Trump's inauguration at the end of the week.
Commodity currencies and outlooks - Nomura
AUD/USD levels
With spot trading at 0.7548, we can see next resistance ahead at 0.7553 (Daily Classic R3), 0.7564 (Daily High), 0.7584 (Weekly Classic R1), 0.7668 (Weekly Classic R2) and 0.7813 (Annual High). Support below can be found at 0.7530 (Daily Classic R2), 0.7524 (Hourly 20 EMA), 0.7508 (Yesterday's High), 0.7503 (Daily Classic R1) and 0.7500 (Daily 200 SMA).
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