AUD/USD climbs to 3-month highs as sentiment improves

AUD/USD gathered momentum and rose to its highest level in almost three weeks as commodity currencies benefitted somehow in a cautious environment dominated by US elections.

All three Wall Street indexes are trading at session highs as well, evidencing some risk appetite amid Clinton’s victory prospects, as the Democratic party's candidate is seen as the status quo candidate.  

AUD/USD broke above previous highs at the 0.7730 area and climbed to a peak of 0.7739 before taking a breather. At time of writing, the pair is trading at 0.7732, a few pips above its opening price.

AUD/USD levels to watch

As for technical levels, next resistances line up at  0.7748 (Aug 16 high) and 0.7800 (psychological level). On the other hand, supports are seen at 0.7657/51 (10-day SMA/Nov 4 low), 0.7640 (20-day SMA) and 0.7610 (50-day SMA).