AUD/USD

February 13, 2019

AUD/USD: The Australian dollar rallied to a 1-week peak, after a survey of consumer confidence showed a surprisingly strong comeback in February. The Melbourne Institute and Westpac Bank index of consumer sentiment advanced 4.3 percent in February after plunging 4.7 percent in January. The Aussie trades 0.5 percent up at 0.7132, having hit a high of 0.7135 earlier; it’s highest since February 6. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7044 (Dec. 26 Low), a break below targets 0.7016 (Dec. 27 Low). On the upside, resistance is located at 0.7166 (January 24 High), a break above could take it near 0.7203 (January 28 High).

AUD/USD daily chart

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