The AUD/USD pair hits 17 year high

The AUD/USD pushes for 17 year high

By Sumant Yerramilly

 The Australian dollar rallied up this week to reach a 17 year high. Traders pushed the AUD/USD pair over resistance levels and broke news highs. In addition, gold futures were up as on June 5, 2007 resulting in a positive upward movement for the AUD.

 The AUD/USD pair is a clear example of the market following the trend line movement. As seen, in the graph below, the constant upward movement over the passed 3 months.

The View:

Previous Trade of the Day articles:

The Euro Peaks due to PPI numbers and ECB statements

Busy day for USD Traders