The AUDUSD pair is trading at 6-week highs in early European trading.

The Australian Dollar got a boost following the headline relating to China here and that saw AUDUSD pair hit a top of 0.6885 briefly. Price is currently testing resistance around 0.6880 from the 50.0 retracement level.

All in all, the 100-day Moving Average at 0.6907 stays the key level to watch as a break over that will see buyers begin to take control over the AUDUSD on the broader picture. That will conceivably return 0.7000 on the table with the Fed to come next week.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.