The Australian dollar pushed higher during trading through the New York session today (Thursday). This upside move started just above parity and has benefited as risk on sentiment was seen following positive U.S. data. However, the euro-zone debt situation is still in full swing and the Italian 10-year yields have increased after a lacklustre auction of the government bonds left markets disappointed once again.
From a technical perspective – price has now hit a confluence of 61.8% Fib and price structure. This could potentially provide resistance (as is sometimes the case with previous support). AUD/USD is currently trading at 1.0143 and testing the confluence area once again. Tomorrow is the final trading day of the year and could possibly see further whipsaw price action.
AUD/USD 30 Minute Chart
