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8 Jan 2015
AUD/USD hits fresh daily highs
FXStreet (Mumbai) - The Aussie climbed against the US dollar in the Asian morning, as traders continue to cheer upbeat Australian building approvals data.
Currently, the AUD/USD hits fresh daily highs at 0.8116, up 0.50% on the day. The Aussie advanced against the greenback from its lowest levels since 2009 yesterday after FOMC minutes failed to deliver any major boost to the US dollar, reiterating that a rate increase is still some time away. The Aussie remains elevated versus the US dollar on cheerful Australian data which revealed that consents for new dwellings saw an unexpected rise of 7.5% in November, opposed to market estimates of 2.7% slide in November. However, the bullish data highlights the impact low borrowing costs continue to have on the market.
Meanwhile, markets will closely watch the release of US NFP data due for release tomorrow especially after a robust ADP employment change numbers yesterday, for any major impact on the currency pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8158 (Jan 6 High) levels, above which gains could be extended to 0.8186 (Jan 2 High) levels. On the flip side, support is seen at 0.8076 (Jan 2 Low) levels, from here it to 0.8034 (Jan 5 Low) levels.
Currently, the AUD/USD hits fresh daily highs at 0.8116, up 0.50% on the day. The Aussie advanced against the greenback from its lowest levels since 2009 yesterday after FOMC minutes failed to deliver any major boost to the US dollar, reiterating that a rate increase is still some time away. The Aussie remains elevated versus the US dollar on cheerful Australian data which revealed that consents for new dwellings saw an unexpected rise of 7.5% in November, opposed to market estimates of 2.7% slide in November. However, the bullish data highlights the impact low borrowing costs continue to have on the market.
Meanwhile, markets will closely watch the release of US NFP data due for release tomorrow especially after a robust ADP employment change numbers yesterday, for any major impact on the currency pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8158 (Jan 6 High) levels, above which gains could be extended to 0.8186 (Jan 2 High) levels. On the flip side, support is seen at 0.8076 (Jan 2 Low) levels, from here it to 0.8034 (Jan 5 Low) levels.