AUDUSD broke above 0.8826 resistance, indicating that the downtrend from 0.9401 had completed at 0.8642 already.
Further rally would likely be seen in a couple of days, and the target would be at 0.8900 - 0.8950 area.
Support levels are at 0.8720 and 0.8642, only break below these levels could trigger another fall towards 0.8000.
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.
Content curiosity of FOREXCycle
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