Australian Dollar Rises Against Majors

The Australian dollar strengthened against the other major currencies in the Asian session on Thursday.

The Australian dollar rose to nearly a 5-week high of 1.4709 against the euro, a 3-day high of 1.0096 against the Canadian dollar and more than a 2-week high of 1.0551 against the NZ dollar, from yesterday’s closing quotes of 1.4781, 1.0051 and 1.0437, respectively.

Against the U.S. dollar and the yen, the aussie advanced to 0.7631 and 83.60 from yesterday’s closing quotes of 0.7589 and 83.15, respectively.

If the aussie extends its uptrend, it is likely to find resistance around 1.44 against the euro, 1.02 against the loonie, 1.07 against the kiwi, 0.77 against the greenback and 85.00 against the yen.

The material has been provided by InstaForex Company – www.instaforex.com

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