AUDUSD failed to break below 0.9328 support, indicating that lengthier sideways movement in a range between 1.9328 and 1.9455 is underway.
Resistance is at 0.9455, as long as this level holds, another fall to test 0.9328 support is still possible, below this level will target 0.9250 area.
Only break above 0.9455 resistance will signal resumption of the uptrend from 0.9208, then next target would be at 0.9600 area.
Editor’s Note: Equity investors/traders can use the Currency Shares Australian Dollar Trust (FXA, quote) ETF to take positions in the Aussie dollar without a FOREX account. The ETF looks to track the price of the Aussie dollar (AUDUSD), minus ETF fee. The fund seeks to reflect the price of the Aussie dollar (AUDUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.
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