Forex Flash: AUD/USD bullish while above 55-week MA - Commerzbank
Forex pairs in this Article » AUD/USD
FXstreet.com (Barcelona) - The AUDUSD is slowly grinding higher and approaching the 1.0613/24 resistance area (August and September highs), where the market should hold. "We are wary that we will see these hold the initial test - we note the TD perfection set- up on the daily chart and these can sometimes alert to initial failure", wrote analyst Karen Jones, expecting an upside bias while underpinned by its 1.0371 55 week moving average. "Should 1.0624 be eroded the next resistance is the 1.0857 (2012 high)", Jones added, while looking for the AUDUSD to remain capped by 1.0565/1.0624 over the medium term, where it would turn back and slide back to 1.0000, then the base of an 20 month converging range, at 0.9755 currently.