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AUD/USD risks both ways

FXStreet (Guatemala) - AUD/USD is trading at 0.8759, down -0.79% on the day, having posted a daily high at 0.8832 and low at 0.8686.

AUD/USD has risen up from the depths of the 0.87 handle having fallen through the level into the 0.8680’s and now challenges a cent higher here. Supply is keeping the Aussie at bay for now. A retracement higher may struggle at 0.8933 according to Karen Jones, chief analyst at Commerzbank, while she explained that to the downside, if 0.8660/43 zone were to give way it would potentially continue to target 0.8550 ad the 50% retracement of the move from 2009, guarding the base of the three year channel at 0.8438/0.8391.

AUD/USD noteworthy levels

With spot trading at 0.8759, we can see next resistance ahead at 0.8767 (Hourly 200 SMA), 0.8788 (Daily Classic PP), 0.8829 (Weekly High), 0.8830 (Daily Open) and 0.8832 (Daily High). Support below can be found at 0.8756 (Hourly 20 EMA), 0.8746 (Weekly Classic PP), 0.8746 (Hourly 100 SMA), 0.8715 (Daily Classic S1) and 0.8686 (Daily Low).

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