FXStreet (Edinburgh) – The Aussie dollar is benefiting from the weakness around the greenback, now pushing AUD/USD to the boundaries of 0.7100 the figure.
AUD/USD finds support near 20-day sma at 0.6990
Spot is staging a strong rebound today, finding decent support around the 20-day sma near 0.6990 and toying with the 0.7100 mark, all amidst a generalized offered tone around the US dollar.
Data wise in the US, the ADP report has come in on the stronger side at 205K for the month of January vs. 195K initially forecasted, while Services PMI missed expectations at 53.2 for the same period.
AUD/USD relevant levels
As of writing the pair is up 0.66% at 0.7098 with the next resistance at 0.7143 (high Jan.29.) followed by 0.7332 (high Dec.31) and then 0.7331 (200-day sma). On the flip side, a break below 0.6916 (low Jan.26) would aim for 0.6873 (low Jan.21) and finally 0.6825 (low Jan.20).
(Market News Provided by FXstreet)