AUD/USD Bounces Off 100-Day SMA, Revisits Daily Highs
AUD/USD
advanced to retest daily highs at the beginning of the New York session
in a bout of dollar selling, with nothing behind the move other than
profit taking.
AUD/USD bounced from the 100-day SMA and climbed
nearly half a cent to touch a high of 0.7379 before losing momentum,
just a few pips shy of its Asian session peak of 0.7390. At time of
writing, AUD/USD is trading at 0.7370, virtually unchanged on the day.
AUD/USD levels to consider
As
for technical levels, on the upside next resistances are seen at 0.7390
(May 11 high), 0.7470 (10-day SMA) and 0.7516 (May 4 high). On the flip
side, supports could be found at 0.7337 (100-day SMA), 0.7299 (May 10
low) and 0.7260 (200-day SMA).
