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AUD/USD turning into an offer?

FXStreet (Guatemala) - AUD/USD is trading at 0.8719, up 0.01% on the day, having posted a daily high at 0.8724 and low at 0.8715.

AUD/USD has held from on the 0.87 handle while the supply was weak through 0.8740 overnight. The pair continues to ride the recent positives for the Australian economy and the fact that increased liquidity will support the Aussie dollar in a risk on environment.

Valeria Bednarik, chief analyst at FXStreet explained that the price needs to extend beyond 0.8770 to extend its gains in a way that would suggest further advances in the near future, whilst a decline below 0.8660 should see the pair back in selling mode.

AUD/USD noteworthy levels

Spot is presently trading at 0.8719, and next resistance can be seen at 0.8724 0.8727 (Daily 20 SMA), 0.8749 (Daily Classic R1) and 0.8751 (Weekly Classic R1). Next support to the downside can be found at 0.8718, 0.8708 (Hourly 20 EMA), 0.8697 (Weekly High) and 0.8669 (Daily Classic PP).

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