The Australian dollar took only a temporary break from the rally and now breaks higher: the pair is at the highest since late August, when it crashed during the Chinese crisis. It climbed above the 0.7277 level seen after the Fed decided not to raise rates in September. The break is not confirmed yet. AUD/USD factors The Australian dollar enjoys recovering copper prices alongside other commodities. Copper hurt the Aussie and now helps it. In addition, we had the not-so-hawkish meeting minutes from the Fed to weigh on the US dollar. The Chinese stock market is also looking good with rises at the moment. There was fear that the reopening of markets would see stocks fall, but so far Chinese stocks are just catching up with the rest. The weak rise in Australian home loans didn’t stop the pair. They rose only 2.9%. AUD/USD levels Above, we have real resistance only at 0.7440, a line that capped the pair several times in July. This is of course followed closely by the round level of 0.75 – mentioned by RBA Governor Glenn Stevens in the past. Further above, 0.7533 is weak resistance after supporting the pair in March. 0.7570 was the low in June. Even higher, 0.7840 and 0.79 are strong lines. On the downside, the round level of 0.72 provides support, and it sis followed by 0.7090 and 0.7040. Below the round level of 0.70, the double bottom of 0.6935 is one to watch. More: AUD/NZD set to trade lower – Credit Suisse Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Fed Minutes Suggest A Tactical Delay, But Lingering Risks Yohay Elam 7 years The Australian dollar took only a temporary break from the rally and now breaks higher: the pair is at the highest since late August, when it crashed during the Chinese crisis. It climbed above the 0.7277 level seen after the Fed decided not to raise rates in September. The break is not confirmed yet. AUD/USD factors The Australian dollar enjoys recovering copper prices alongside other commodities. Copper hurt the Aussie and now helps it. In addition, we had the not-so-hawkish meeting minutes from the Fed to weigh on the US dollar. The Chinese stock market is also looking good with… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
