The AUD/USD rose to fresh daily highs as the greenback came under mild pressure in light European session Monday as US yields recede. The AUD/USD extended its decline during the Asian session and hit a low of 0.8832 before finding support and bouncing. The pair stalled at the 0.8865 zone at a first attempt but then gathered momentum and climbed to a high of 0.8883. At time of writing, the AUD/USD is trading around 0.8875, recording a 0.2% gain on the day.
In terms of technical levels, if the AUD/USD breaks above 0.8883 (daily high), next resistances could be found at 0.8900 (psychological level) and 0.8928 (Dec 27 high). On the flip side, supports are seen at 0.8832 (daily low), 0.8820 (2013 low Dec 18) and 0.8800 (psychological level).