Forex: AUD/USD hits 3-day high

The Australian dollar finally broke above the 1.0250 resistance area and extended gains during American hours as stocks rally in Wall Street and the Dow Jones reaching an all time high.

AUD/USD gathered momentum and pushed higher to print a 3-day peak of 1.0261 in recent dealings. At time of writing, the cross is trading around 1.0255/60, recording a 0.6% gain since opening.

In terms of technical levels, immediate resistances could be found at 1.0290 (high Feb 28), 1.0300 (psychological level) and 1.0325 (high Feb 25). On the downside, immediate supports are seen at 1.0200 (psychological level), 1.0180 (lows Feb 27/Mar 1) and 1.0115 (low Mar 4).