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Forex News: Australian Dollar Rises Against Majors

Australian Dollar Rises Against Majors

05/08/2023 - 03:51:00 (RTTNews)

(RTTNews) - The Australian dollar strengthened against other major currencies in the early European session on Monday.

The Australian dollar rose to nearly a 4-week high of 0.6789 against the U.S. dollar and nearly a 3-week high of 1.6265 against the euro, from early lows of 0.6739 and 1.6352, respectively.

Against the NZ dollar and the yen, the aussie advanced to 6-day highs of 1.0738 and 91.64 from early lows of 1.0701 and 90.92, respectively.

Moving away from an early 6-day low of 0.9020 against the Canadian dollar, the aussie edged up to 0.9068.

If the aussie extends its uptrend, it is likely to find resistance around 0.70 against the greenback, 1.57 against the euro, 1.09 against the kiwi, 94.00 against the yen and 0.91 against the loonie.

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