FXStreet (Barranquilla) – The Australian Dollar is taking profit from the US Dollar weakness after the FOMC meeting and after jumping 130 pips from 0.7715 priced in the Asian session, the AUD/USD is now trading at highs since May 22 at 0.7850.
The AUD/USD is rising today after two days of decline and now the pair is breaking above the recent 0.7700-0.7800 range. With today’s gains, the AUD/USD is turning positive for the second week; extending June rebound.
Currently, AUD/USD is trading at 0.7833, up 1.09% on the day, having posted a daily high at 0.7851 and low at 0.7710. AUD/USD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
AUD/USD Levels
If the pair manages to break above 0.7850, it will find resistances at 0.7865 and 0.7900. To the downside, 0.7815, 0.7800 and 0.7770 are resistances.
(Market News Provided by FXstreet)