In This Issue:

AUDUSD: Although price hesitation occurred on Thursday reducing its gains after rallying strongly the past days, AUDUSD remains biased to the upside with eyes on its April 21’10 high at 0.9337...


AUDUSD

AUDUSD

AUDUSD: Overall Outlook Points To The 0.9404 Level.

AUDUSD: Although price hesitation occurred on Thursday reducing its gains after rallying strongly the past days, AUDUSD remains biased to the upside with eyes on its April 21’10 high at 0.9337. A decisive violation of this level will call for further gains towards its 2009 high at 0.9404 with an eventual clearance of there targeting the 0.9500 level, its psycho level. Its daily RSI is bullish and pointing higher supporting this view.
Alternatively, the 0.9221 level, its Aug 06’10 high will come in as support on any pullback.
We expect a cap at this level to turn the pair higher again. Further down, support resides at the 0.9078 level with a clearance of there targeting the 0.8770 level followed by the 0.8736 level.