Forex: AUD/USD trekks above 1.0470 on Greece news

FXstreet.com (San Francisco) - The AUDUSD has finally managed to break out of the upper boundary of its recent consolidation range to push above the 1.0470 resistance area in early Asia Tuesday, extending as high as 1.0477, a price not seen in two weeks. The lift comes on headline that the EU and the IMF have reached a deal regarding Greece's debt.

The next upside barrier for AUDUSD lies at an immediate 1.0480 (Nov 7 high), while a push above there targets 1.0515 (Sep 21 high) and 1.0545 (Aug 23 high). The downside offers support at 1.0455 (Nov 14 high), 1.0410 (Oct 18 high) and 1.0395 (Oct 25 high). Spot currently stands bid at mentioned intraday highs, though tight ranges are expected until the RBA meets next week.