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Australian Dollar Rises Against Majors

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

The Australian dollar rose to nearly a 3-week high of 1.0771 against the NZ dollar, from yesterday’s closing value of 1.0698.

Against the yen and the euro, the aussie advanced to 5-day highs of 95.20 and 1.6576 from Monday’s closing quotes of 94.81 and 1.6642, respectively.

Against the U.S. and the Canadian dollars, the aussie advanced to 5-day highs of 0.6367 and 0.8670 from yesterday’s closing quotes of 0.6340 and 0.8631, respectively.

If the aussie extends its uptrend, it is likely to find resistance around 1.09 against the kiwi, 98.00 against the yen, 1.63 against the euro, 0.65 against the greenback and 0.88 against the loonie.

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