23 Jun 2014
AUD/USD takes a breather near highs
FXStreet (Córdoba) - The AUD/USD is taking a breather, consolidating near 2 ½-month highs, after rallying in the wake of better-than-expected Chinese PMI data.
The Aussie strengthened across the board and rose more than 70 pips versus the greenback after China’s HSBC PMI came in at a 7-month high of 50.8, first time above the 50 mark this year. The AUD/USD peaked at 0.9444 and entered a consolidation phase that has extended over the last hours. At time of writing, the AUD/USD is trading at 0.9438, up 0.56% on the day.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could find immediate resistances at 0.9444 (Jun 23 high), 0.9460 (Apr 10 high) and 0.9500 (psychological level. On the other hand, supports are seen at 0.9472 (Jun 23 low), 0.9350 (Jun 12 low) and 0.9321 (Jun 18 low).
The Aussie strengthened across the board and rose more than 70 pips versus the greenback after China’s HSBC PMI came in at a 7-month high of 50.8, first time above the 50 mark this year. The AUD/USD peaked at 0.9444 and entered a consolidation phase that has extended over the last hours. At time of writing, the AUD/USD is trading at 0.9438, up 0.56% on the day.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could find immediate resistances at 0.9444 (Jun 23 high), 0.9460 (Apr 10 high) and 0.9500 (psychological level. On the other hand, supports are seen at 0.9472 (Jun 23 low), 0.9350 (Jun 12 low) and 0.9321 (Jun 18 low).