The Australia S&P/ASX 200 opens up 0.65% at 6882.20. A move higher today would be the 3rd consecutive rise after bottoming on Monday at 6751.3.
The AUDUSD is trading up 0.38% in early trading and trades to the highest level on October 12. The price broke above the 0.6400 level earlier today and has just reached a new session high at 0.6417 (see video below).
Meanwhile, the NZDUSD is also extending higher and trades at its highest level since October 18. Looking at the hourly chart, the next target comes against the 38.2% retracement of the move down from the October high to the October low. That level comes in at 0.5880. Get above that level and traders will look toward the 0.58945 level. The 50% midpoint of the move-down comes in at 0.59135 is another target on more upside momentum.
Close risk for buyers looking for more upside momentum, comes in at 0.58568 (high price from Tuesday and Wednesday).