AUD/USD breaks through 0.77 & 200-day MA

AUD/USD keeps building up its upward momentum, currently trading at 0.7707, having broken through the key psychological barrier, a level where the 200-day MA intersected too. 

Gold and commodity FX on the rise

Valeria Bednarik, Chief Analyst at FXStreet, notes: "The AUD/USD pair surged to its highest since November 5th, surpassing by a couple of pips the 0.7700 threshold. The Aussie found support in a stronger Canadian dollar and gold, with the first rallying on strong local data and the second, in spite of generally weaker safe-haven assets. The Australian macroeconomic calendar has nothing to offer this Friday. "

AUD/USD technicals

As Valeria expands: "The pair stands above the upper end of its latest consolidative range, somehow leaning the scale toward the upside, despite short-term technical readings lack directional momentum. In the 4 hours chart, the pair advanced well above its 20 SMA that started to turn higher, but technical indicators remain directionless, the Momentum around its mid-line, but the RSI holding near overbought territory. The pair has now an immediate resistance at 0.7730, November monthly high with a break above it opening doors for a continued advance toward the 0.7800 figure."