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AUD/USD tests 200 day moving average as Mining and M+A highlight the topside
Yesterday the AUD/USD continued the rebound that started from last Friday, when the Aussie fell back close to 0.6350. The AUD/USD closed in the US last night at 0.6498. It has risen further today, as the wider dollar (Ex Japan) comes under further pressure and the commodity currencies gain. The M+A news flow concerning BHP and Anglo American is front and centre of a focus on the mining sector right now, with particular focus on Copper prices this year too. So, the AUD/USD has just now tested its 200 day moving average (at 0.6526). The rebound in the Aussie is part and parcel of that wider theme, but it remains to be seen if it can extend further above that technical resistance level and possibly even close above it tonight- we shall see. The AUD/USD is currently trading at 0.6525
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