By Yan Petters – The AUD/USD pair continues its bullish trend with full steam. Recently, after peaking at the 0.9200 level, the pair saw a technical correction which took the pair as low as the 0.8775 level. However the pair promptly resumed the bullish trend, and is currently aiming the 0.9400 level.
• The chart below is the AUD/USD daily chart by ForexYard.
• The chart shows that the pair has gained about 1,300 pips in the last 4 months and approximately 600 pips during the past 3 weeks.
• Both the Slow Stochastic and the MACD have completed a bullish cross lately, suggesting that the bullish move has more room to go.
• The pair is currently testing the 0.9325 resistance level. If the pair will manage to breach this level, it has potential to reach the 0.9400 level.
• The next target after reaching the 0.9400 level might be the 0.9520 level.
• The next support levels are the 0.9265 and the 0.9200 levels.
Forex Market Analysis provided by ForexYard.
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