Forex: AUD/USD hits 11-week high as stocks advance
FXstreet.com (Córdoba) - The Australian dollar extended its advance against the greenback and reached its strongest level in almost 3 months, supported by the positive market sentiment and stocks broad gains.
As the S&P 500 set another record high, the AUD/USD rallied to a high of 1.0551, last seen Jan 24. At time of writing, AUD/USD is trading around 1.0540/45 where it posts a 0.6% gain on Wednesday and its third daily rise in a row.
As for technical levels, Valeria Bednarik, chief analyst at FXstreet.com locates next resistance levels for the Aussie at 1.0550, 1.0585 and 1.0620, while she sees supports at 1.0500, 1.0470 and 1.0440.