AUD/USD hits fresh two-year highs, eyes 0.7700

Aussie among biggest gainers on Wednesday, on the back of risk appetite.
AUD/USD heads for highest daily close since 2018.

Matías Salord FXStreet

The AUD/USD pair rose further during the American session and climbed to 0.7685, the highest since April 2018. As of writing, it remains near the top, holding a strong bullish tone supported by risk appetite and a weak US dollar.

Wall Street up, DXY down

The Dow Jones is rising by 0.58% on Wednesdays, and the Nasdaq climbs 0.28%. Recent developments regarding the AstraZeneca/Oxford vaccine offset Senate Majority Leader Mitch McConnell's rejection of the new coronavirus stimulus plan.

Main US stock indexes are heading toward another record close. Economic data from the US came in mixed and was mostly ignored by market participants. Home sales dropped 2.6% in November against expectations of a flat reading.

The risk-on environment is boosting commodity currencies. Among them, the Australian dollar is the top performer on Wednesday. AUD/NZD is back above 1.0650 while AUD/CAD trades around 0.9800, at the strongest level in two years.

Technical levels

AUD/USD

Overview
Today last price	0.7685
Today Daily Change	0.0077
Today Daily Change %	1.01
Today daily open	0.7608

Trends
Daily SMA20	0.7529
Daily SMA50	0.7351
Daily SMA100	0.7276
Daily SMA200	0.6988

Levels
Previous Daily High	0.7626
Previous Daily Low	0.7575
Previous Weekly High	0.7619
Previous Weekly Low	0.7461
Previous Monthly High	0.7438
Previous Monthly Low	0.699
Daily Fibonacci 38.2%	0.7607
Daily Fibonacci 61.8%	0.7594
Daily Pivot Point S1	0.758
Daily Pivot Point S2	0.7552
Daily Pivot Point S3	0.7529
Daily Pivot Point R1	0.7631
Daily Pivot Point R2	0.7654
Daily Pivot Point R3	0.7682

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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