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AUD/USD soars, reaches pass 0.9760

FXstreet.com (Buenos Aires) – Aussie extended its advance to a fresh 2-week high above 0.9760, having been positive since early weekly opening, favored by positive Chinese data released past Saturday. Having been grinding higher for most of the European session, US disappointing data and the promise of a lively future for QE, gave the pair a reason to recover ground, after being steadily bearish for over the past 3 weeks.

While short term technical readings suggest now an upward continuation, the pair has not yet filled the weekly opening gap around 0.9570. Immediate resistance comes at 0.9777, May 23rd daily high, followed by 0.9820 price zone, 20 DMA. Supports are at 0.9710, May 17th daily low, followed by strong static 0.9660 level.

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