AUD/USD climbs from weekly lows to 0.7655

Matías Salord FXStreet

The Aussie gained momentum across the board on the back of risk appetite and pushed AUD/USD above 0.7650. The pair, that a few hours ago was trading at 2-week lows under 0.7600, reversed and climbed to 0.7653 reaching the highest level since last Thursday.

Price remains near the highs with the AUD/USD keeping a bullish tone. The pair is testing the 0.7650/55 resistance zone. For the coming hours, as long as it remains above 0.7635, the upside bias would remain intact.

While the US dollar strengthened against European currencies and the yen, it lost momentum versus commodity currencies. Equity prices in Wall Street are rising. The Dow Jones is up 0.47%% and the Nasdaq gains 0.36%. Crude oil is rising almost 2.0% while gold is unchanged for the day.

Technical levels

If the pair extends to the upside, it could fin resistance at 0.7655 (daily high), 0.7685 (Mar 23 high) and 0.7715/20 (Mar 15 high). On the opposite direction, support might lie at 0.7605 (Mar 24 low), 0.7585 (daily low) and 0.7535/40 (Mar 14 low).

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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