Australian Dollar Jumps To Fresh 4-month Highs Against Greenback

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Australian Dollar Jumps To Fresh 4-month Highs Against Greenback

Snapping back from early Asian session's steep sell-offs, the Australian dollar touched 1.0544 against its US counterpart around 4:20 am ET Wednesday and this set the strongest mark for the pair since March.
The pair has breached the key medium-term resistance zone of 1.0475/1.0525 and is now looking for the major target level around 1.0850. However, any risk-off selling could lead the pair re-testing the 1.0180/1.02 support area.

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