FXstreet.com (Barcelona) - AUD/USD has continued its daily march high and is now within touching distance of the 1.0496 level which has proved to be stiff resistance over the past month.

The pair made a low in early trading today at 1.0413, before climbing steadily following bullish UK production data helped push the dollar back on the defensive. Currently trading at 1.0486, some 10 pips shy of the previous highs, hourly MA´s are indicating further bullish sentiment. Hourly Stochastics are at 89 and tentatively looking like sentiment may be flattening. Meanwhile, RSI is at 77 and while still moving with an upward trajectory, appears to be gently flattening. Applying a Fibonacci retracement from the week's low at 1.0348 to the daily high today, indicates that should a pullback follow, the first area of support (23.6%) would fall in the region of 1.0457, before 1.0436 (38.2%).