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AUD/USD extends recovery above 0.8650

FXStreet (Córdoba) - AUD/USD recovered ground and hit fresh daily highs at the beginning of the American session as JPY weakness lifted AUD/JPY above 100.00 and helped AUD/USD.

AUD/USD bounced off a daily low of 0.8590 and rose more than half a cent over the last hours, reaching a high of 0.8657 in recent dealings. At time of writing, the pair is trading at 0.8646, 0.30% above its opening price.

AUD/USD short-term outlook

AUD/USD holds a positive tone in short-term charts, according to Valeria Bednarik, chief analyst at FXStreet, “yet some follow-through above 0.8690 is required to see some actual bullish momentum, quite unlikely for US hours”.

Bednarik locates next resistances at 0.8660, 0.8690 and 0.8730, while support levels are seen at 0.8610, 0.8550 and 0.8520.

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