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12 Mar 2015
AUD/USD peeks above 0.7700
FXStreet (Córdoba) - AUD/USD extended its recovery from nearly 6-year lows and climbed to 3-day highs above 0.7700 as the greenback continued to correct following strong gains.
The US dollar retreated further following weaker than expected US retail sales figures, sending AUD/USD to a high of 0.7729 before the 200-hour SMA offered resistance. At time of writing, the pair is trading at 0.7695, recording a 1.65% gain on the day.
The recovery of the Australian dollar was also helped by solid domestic employment data published during the Asian session. The Australian economy added 15.6K new jobs in February versus 15.0K expected, while the jobless rate inched down to 6.3%, matching forecast.
AUD/USD technical levels
In terms of technical levels, AUD/USD could find immediate resistances at 0.7729 (daily high) and 0.7750 (Mar 3 low). On the flip side, supports are seen at 0.7660 (100-hour SMA) and 0.7600 (psychological level) ahead of 0.7560 (2015 low Mar 11).
The US dollar retreated further following weaker than expected US retail sales figures, sending AUD/USD to a high of 0.7729 before the 200-hour SMA offered resistance. At time of writing, the pair is trading at 0.7695, recording a 1.65% gain on the day.
The recovery of the Australian dollar was also helped by solid domestic employment data published during the Asian session. The Australian economy added 15.6K new jobs in February versus 15.0K expected, while the jobless rate inched down to 6.3%, matching forecast.
AUD/USD technical levels
In terms of technical levels, AUD/USD could find immediate resistances at 0.7729 (daily high) and 0.7750 (Mar 3 low). On the flip side, supports are seen at 0.7660 (100-hour SMA) and 0.7600 (psychological level) ahead of 0.7560 (2015 low Mar 11).