AUDUSD broke above 0.9133 resistance, suggesting that the uptrend from 0.8660 (Jan 24 low) has resumed.
Further rise could be expected, and next target would be at 0.9250 area.
Support is at 0.9060, only break below this level will indicate that lengthier consolidation of the uptrend is underway, then pullback to the bottom of the price channel on 4-hour chart could be seen.
Content curiosity of FOREXCycle
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 euro, minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.
You must be logged in to post a comment.