Forex: AUD/USD reaches fresh 4-week high

FXstreet.com (Córdoba) - The Australian Dollar is among the best performers on Tuesday, underpinned by investors’ risk-on mood in the wake of positive Chinese and European data, having reached a fresh all time high against the Euro and a 4-week peak versus the Dollar.

AUD/USD rose nearly 140 pips throughout the day and recently hit its highest rate since Dec 8 at 1.0367 before retreating slightly. At time of writing, the Aussie is quoting around 1.0340, up 1.1% on the day.

As for technical levels, above 1.0365, next resistance could be found at 1.0380, followed by 1.0400 and 1.0420. Immediate supports are seen at 1.0320 and 1.0300 ahead of 1.0275.

Meanwhile, EUR/AUD dropped to a fresh all time low of 1.2578 in recent dealings and currently trades around 1.2590, 0.3% below its opening price.

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