AUDUSD goes up but with limited gains

Australian dollar

The single currency AUD went higher against the American dollar today, but with rather limited gains due to the increasing concern around the Hurricane Sandy.

The pair AUDUSD reached the level 1.0371 during the European morning trade, and later on it stayed firm at 1.0366, with rise of 0.34%.

AUDUSD was supposed to find support at 1.0306, which is the bottom of October 26, and resistance at 1.0412, the peak from October 28.

In Australia, industry data showed that new home sales fell for the third consecutive month in September, dropping 3.7% after a 5.3% decline the previous month.

Besides, the Australian dollar was higher against the euro with currency pair EURAUD reaching 1.2474.

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