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AUD/USD Builds Up Further Strength

A strong rally saw AUDUSD pushing through the 1.0600 and 1.0700 levels the past week. This has opened the door for more strength towards the 1.0800 level where a break will allow for further gains towards the 1.0900 level and then 1.100 level.

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Its weekly momentum studies are bullish and pointing higher supporting this view. Alternatively, on any pullback, the 1.0700 level should come in as the initial support followed by the 1.0600 level where a reversal of roles as support is expected to occur.

Further out, supports are located at the 1.0500 and then the 1.0400 level. All in all, with AUDUSD maintaining its bullish momentum, further strength is likely in the days ahead.


Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.