The Australian dollar seems unstoppable recently. It now trades at the highest levels in the float era, after making a distinctive break. Update on the surging currency. AUD/USD now trades at 1.0273, after breaking the previous high of 1.0254 set at the end of December 2010, when volume was very thin. After it broke the 1.0180 resistance yesterday, it continued gradually until the previous historic high and was capped by it, until it made the breakout now. The Australian dollar began floating in the free market at the beginning of the 80s, so this is the highest level since at least 1983. There’s more room for rises after this breakout. In case of reversal, 1.0254 serves as support, followed by 1.01080. For more levels, see the AUD/USD Forecast. Australia enjoys the a low level of unemployment, only 5%. In comparison, the unemployment rate in the US is 8.9% and the Euro-zone’s rate is 9.9%, significantly higher. The Australian economy is booming, with healthy growth rates. Australia never plunged into recession following the financial crisis – it had only one quarter of contraction. Australia also has a high interest rate, 4.75%, which attracts investors seeking for high yields with relatively low risks. Among the reasons for Australia’s success are: Chinese growth, the fresh spike in commodity prices and more positive reasons to support its economy. See yesterday’s article about reasons for the Aussie’s breakout. This followed the previous breakout. 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 Saif Al-Islam Wants to Leave Libya? Yohay Elam 11 years The Australian dollar seems unstoppable recently. It now trades at the highest levels in the float era, after making a distinctive break. Update on the surging currency. AUD/USD now trades at 1.0273, after breaking the previous high of 1.0254 set at the end of December 2010, when volume was very thin. After it broke the 1.0180 resistance yesterday, it continued gradually until the previous historic high and was capped by it, until it made the breakout now. The Australian dollar began floating in the free market at the beginning of the 80s, so this is the highest level since at… 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.
