Australian dollar strengthens against major currencies in Asian trade

SYDNEY: The Australian dollar strengthened against the other major currencies in the Asian session on Wednesday.

The Australian dollar rose to an 8-day high of 0.9421 against the Canadian dollar, from yesterday’s closing value of 0.9372.

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Against the US and the New Zealand dollars, the aussie advanced to 0.7020 and 1.1032 from yesterday’s closing quotes of 0.6980 and 1.0995, respectively.

The aussie edged up to 84.21 against the yen and 1.6029 against the euro from yesterday’s closing quotes of 83.60 and 1.6097, respectively.

If the aussie extends its uptrend, it is likely to find resistance around 0.95 against the loonie, 0.71 against the greenback, 1.11 against the kiwi, 86.00 against the yen and 1.56 against the euro.