AUD Index: AUD/USD pushes towards 0.945

AUD Index: AUD/USD pushes towards 0.945
Written by:
John Adam
1st July 2014
Updated: 5th March 2020

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The dips have once again been bought and we have pushed further towards the highs which have contained this rally so far with key Chinese and Australian risk events overnight to potentially break us higher at last if the numbers are good. 0.9450 is the line in the sand that we need to hold above for AUDUSD so strong Chinese data will likely see us head higher towards the 0.9511 resistance level. Gold is also supportive of the Aussie at the moment although remains equally unable to progress higher in any meaningful way yet. This last push higher though seems to have been with more vigour than previously, but again, with the dollar now oversold the risk of this break higher for gold running out of steam is high. I am bullish AUD% but only if Chinese numbers are good
**AUD% Index Resistance: AUDUSD 0.9450, 0.9511**
**AUD% Index Support: AUDUSD 0.9420, 0.9395,0.9338**
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