AUD/USD Bounces Off 100-Day SMA, Revisits Daily Highs

AUD/USD Bounces Off 100-Day SMA, Revisits Daily Highs

11 May 2016, 15:51
Roberto Jacobs
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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).


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