13 Jan 2014
AUD/USD hits 1-month highs above 0.9000
FXstreet.com (Córdoba) - The AUD/USD broke above 0.9000 and rose to 0.9035 hitting a the strongest level in a month on the back of a weak US dollar that is falling across the board.
At the beginning of the week the AUD/USD moved sideways, unable to hold above 0.9000 in what seemed like a quiet session, but price activity increased significantly and the Aussie bounced at 0.8985, gained momentum and jumped to fresh highs.
Technical outlook for the AUD/USD
At 0.9004 the AUD/USD has a key resistance, points out Nial Fuller, from Learn to Trade The Market. Fuller affirms that the trend is still down overall, “but if the market can close above 0.9004 resistance this week on the daily chart time frame, we could see a larger upward retrace unfold over the coming days”.
At the beginning of the week the AUD/USD moved sideways, unable to hold above 0.9000 in what seemed like a quiet session, but price activity increased significantly and the Aussie bounced at 0.8985, gained momentum and jumped to fresh highs.
Technical outlook for the AUD/USD
At 0.9004 the AUD/USD has a key resistance, points out Nial Fuller, from Learn to Trade The Market. Fuller affirms that the trend is still down overall, “but if the market can close above 0.9004 resistance this week on the daily chart time frame, we could see a larger upward retrace unfold over the coming days”.