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Forex News: Australian Dollar Rises Against Majors

Australian Dollar Rises Against Majors

08/28/2024 - 02:25:00 (RTTNews)

(RTTNews) - The Australian dollar strengthened against other major currencies in the Asian session on Wednesday.

The Australian dollar rose to more than a 1-month high of 1.6408 against the euro, from yesterday's closing value of 1.6464.

Against the U.S. and the Canadian dollars, the aussie advanced to nearly an 8-month high of 0.6813 and a 2-day high of 0.9159 from Tuesday's closing quotes of 0.6792 and 0.9128, respectively.

Against the yen and the NZ dollar, the aussie edged up to 98.25 and 1.0911 from yesterday's closing quotes of 97.77 and 1.0860, respectively.

If the aussie extends its uptrend, it is likely to find resistance around 1.59 against the euro, 0.69 against the greenback, 0.93 against the loonie, 104.00 against the yen and 1.11 against the kiwi.

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