AUD/USD: looks to strengthen further

on May 8, 2014
Updated: Oct 21, 2019

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**AUD/USD: Resumes Strength, Eyes Key Resistance.**
AUD/USD – Having resumed its bullish offensive following a one-day pullback, AUD/USD looks to strengthen further. On the upside, resistance resides at the 0.9400 level where a violation will set the stage for a run at the 0.9460 level and then the 0.9500 level. A break will aim at the 0.9550 level and then the 0.9600 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, support stands at the 0.9366 level. A reversal of roles as support is likely to occur here but if that fails to occur expect more decline to occur towards the 0.9300 level. Further down, support comes in at the 0.9250 level followed by the 0.9200 level. All in all, the pair remains biased to the upside on further strength.


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