Forex: AUD/USD above 1.04 as US “fiscal cliff” progress

FXstreet.com (Barcelona) - As USD index dips to fresh daily lows below 79.68 last, despite being strongest against Yen in more than 2 years, AUDUSD is currently dealing with fresh session highs last at 1.0431, up +0.59% for the week so far. Australian ASX index is also higher +0.85% for the day, with Tokyo and China markets closed for holiday.

Australia AIG Manufacturing Index came in at same level it did previous month at 44.3, although markets are mainly moving on US "fiscal cliff" headlines related, with latest being GOP House members having accepted Senate deal, and getting ready for an imminent vote. Local futures markets are all in the green, as risk takers are starting to show up, making Aussie print fresh session highs at 1.0436.

Immediate resistance to the upside for AUDUSD shows at Dec 11 lows 1.0461, followed by Nov 27 highs at 1.0491, and Dec 06 highs at 1.0515. Closest support to the downside lies at Dec 24 highs 1.0417, followed by Monday's highs 1.0409, and Dec 03 lows at 1.0393.