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Market Outlook 28 Dec

CURRENCIES EUR/USD The euro has been on the rise while the dollar has been dropping against it, as the efforts to avert the fiscal cliff continue. The dollar fell to its lowest in 8 months trading at 1.3236 per euro at 5:05 pm New York time, and it has weakened as much as 0.5 percent. The euro’s 14-index of relative strength reached 70.6 to the dollar.

USD/JPY The yen has been on a fall, reaching its lowest in 28 months against the dollar. The yen dropped 0.6 percent touching 86.10 per dollar, its weakest since August 16, 2010.As of 2:17pm Tokyo time, the yen traded at 86.64 per dollar, after trading at 86.45 which is 0.4 percent lower than yesterday. The yen has lost 2.6 percent against the dollar since December 21 of this year, and its 14-day relative strength index has dropped to 17 against the dollar.

EUR/JPY According to Bloomberg’s correlation-weighted indexes the euro has gained 3 percent in the past three months, making it the second highest of the 10 development market currencies.The yen however has dropped 0.7 percent to 113.99 per euro, and its 14 day relative strength index dropped to 19.8 against the euro.The constant fall of the currency has spurred speculations that the central bank of the country will need to try and set up a cash infusion to control the situation.The Japanese currency has lost 0.4 percent to 114.49 per euro, and dropped to its lowest level since July 11 2011, while the euro has gained 0.1 percent and is now at 1.3242 dollars.

AUD/JPY The Australian currency has been gaining strength and has reached its highest against the yen since April of 2011, and has touched 89.83 yen. The decline in Japan’s consumer prices which has added to the monetary problems of the country, has helped the Australian dollar trade at 89.67 as of 4:01 pm Sydney time, which is 0.4 percent higher than yesterday. The yearly increase of the currency is predicted to be 14 percent against the Japanese currency.

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USD/JPY As the Asian session shifts to Europe, the USD/JPY is weakening and printing daily lows. Early in Asian morning, the pair had ralied intensely from the lower end of the 86.00 mark to 86.64 high on the back of deflationary Japanese data.

The National CPI improved from -0.4% to -0.2% in November, but was still negative, as it was “Ex food and energy” and “Ex fresh food” data. Tokyo CPI fell further to -0.6%. The annualized flash Japan industrial production fell from -4.5% to -5.8% in November.

UBS analysts are bullish: “We expect more upside in the near term towards 89.16”, wrote analyst Gareth Berry, pointing to 91.13 in case of a break.

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EUR/USD US Senate majority leader Harry Reid's disappointment yesterday, expecting the country to fall into the fiscal cliff, took the market by surprise as the EUR/USD plunged from 1.3282 to 1.3210, and then went as low as 1.3202. New positions allowed the pair to bounce and range at 1.3240/50 during the Asian session. The EUR/USD is trading at the high end of the range.

The House of Representatives will meet in a previously-unscheduled session on Sunday, while President Obama will meet today with Democratic and Republican leaders.

UBS analysts are bullish: “We look for a potential break above 1.3386, the March high to extend the strength to 1.3493”, wrote analyst Gareth Berry, pointing to support at 1.3143

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EUR/JPY 116.70 is the 50% retracement of the big fall from 139.20 to 94.00 and should be respected, as the Yen pairs always seem to pay particular attention to the 50% pull-back level. Above that, there is more resistance in a row of daily highs near 117.90.Support levels should now be firm beginning at 112.50 down through 111.40. Playing a wide 111.50/116.50 range over the New Year holiday does seem like a sensible strategy.

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Market Outlook 31 Dec 2012

EUR/USD The dollar rose 0.1 percent to 1.3201 dollars against the euro. The euro has risen 1.8 percent versus the dollar, a rise for the first time in two years, after the European Central Bank presented a program in September to aid the currency’s fall.

USD/JPY The yen declined 0.2 percent to 86.13 per dollar as of 1:32 p.m Singapore time, the continuous decline has brought heat on the country from other nations , Finance Minister Taro Aso responded that no one has the right to lecture the country, and added that the US should have a stronger dollar. Since 2011 the currency has dropped more than 10 percent against the dollar.

AUD/USD The Australian dollar climbed higher than most of the other currencies, and that was due to the manufacturing growth in China, which is its biggest trading partner. It gained 0.1 percent to 1.0381 dollars and is expected to have an overall 1.7 increase this year.

GBP/USD After a couple of changes throughout the past week, where the British pound rose against the dollar, after the pair hit 1.6065 on Thursday which was its lowest since December 10, the pair has climbed today and added 38 pips at 1.6138.

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usd%20chf.gif

USD-CHF @ 0.9145/48...Ranged

R: 0.9180-200 / 0.9260 /

S: 0.9090 / 0.9000

Dollar-Swiss traded in the 0.9180-0.9080 range for the whole week, though the expectation was that it will rise further. In the coming weeks there is still a possibility of it rising towards 0.9260 if it breaks the 0.9080-180 range on the upside. Having said that the bigger trend remains bearish and we expect it to eventually move lower towards 0.9000. It has bounced back from the support on the monthly charts at 0.9090 which needs to be broken for a dip lower. We will have to wait and watch to see which side the range breaks. But if a rise to 0.9260 is seen it would be a selling opportunity with tight stop.

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GBP-USD @ 1.6152/55...Relatively strong can rise while above 1.6100

R: 1.6160 / 1.6200-15 / 1.6245 /1.6300

S: 1.6100-80 / 1.6015-00 /

Cable traded in the tight 1.6200-6070 range for the week, it was looking like a dip to 1.6000 will be seen but it found good support near 1.6100 levels on daily closing basis and managed to close above it on every test of the support. The longer term out look on cable is bullish and a strong rise towards 1.6300-400 can be seen. In the coming week we can see Cable breaking its 1.6200 resistance and move up towards 1.6300 and then towards 1.6400 later. On the down side 1.6100-6080 continues to give good support to the pair. A dip to 1.6000 can only be seen if this immediate support is broken and such dips can be considered for taking Long positions.

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AUD-USD @ 1.0383/86...Weak

R: 1.0400 / 1.0435 / 1.0465

S: 1.0345-40 / 1.0280 / 1.0150

Aussie through the week traded in the tight 1.0400-345 range after it turned down from its highs early December. The expectations are that bearish in the medium term as we are looking for a dip and a fall towards 1.0280 and then to 1.0150 in the coming days. Now there is a possibility of a bounce to 1.0435-60 before this dip take place. Now whether we see a dip or a bounce will depend up which side the range breaks. The weekly candle is weak and I would be slightly in favor of it breaking on the down side from here it self.

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Market outlook 2 January 2013

Currencies USD/JPY The Yen has dropped even further against the dollar, and has gone down to 87.33 per dollar, its lowest since July 29, 2010. As of 6:38 am London time it traded at 87.27. These changes took place after the legislation to avert the fiscal cliff was passed. Currency strategist in Sydney Australia& New Zealand Banking Group Ltd. Andrew Salter stated that the Yen will probably remain weak for the time being, adding “if you look out a month or two, it really depends upon what the government is able to achieve as far as the central bank is concerned”

EUR/USD The dollar lost 0.5 percent and fell to 1.3272 dollars against the euro. Its weakening has taken affect as the legislation for averting the fiscal cliff was passed by the U.S. today.

AUD/USD The U.S. dollar slightly gains while the Aussie loses, dropping 0.7 percent from its lowest level in over four weeks. As of 11:08 am Sydney time it traded at 1.0399 dollars. It is predicted that the Australian dollar will rise to 1.07 dollars throughout the next six months, and to 1.01 by the

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Technical Analysis Jan 2 2013

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EUR/USD Resistance at 1.3300 continues to suppress any bullish momentum as the EURUSD pair consolidates. Failure to rise above the figure would prompt a decline to initial support at 1.3165. Further penetration lower would shift focus to 1.3119.

Support Levels 1.3250 1.320 1.3150

Resistance Levels 1.3300 1.3350 1.34

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GBPUSD continued to rise off of the bounce of 1.6100 round figure support. Now above the 1.6200 psychological figure, the major pair is set to rise towards the 1.6306 December 19th session high. Any retracement would see support at 1.6200.

Support Levels 1.63 1.6250 1.62

Resistance Levels 1.6350 1.64 1.6450

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USD/JPY Closing above the 86.50 figure on Monday, the USDJPY pair looks ripe for an advance on the 88.00 round figure. Any downside potential remains in a break of the 84.50 round figure.

Support Levels 86.50 86.30 86.00

Resistance Levels 87.00 87.30 87.50

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AUD/USD Establishing temporary support at 1.0344, AUDUSD continues to keep a bearish bias in the short term. Resistance via the 1.0450 figure continues to weigh on any upside retracement in the pair, supporting the likelihood of a dip to 1.0286 November 16th session low.

Support Levels 1.0350 1.04 1.0450

Resistance Levels 1.05 1.0550 1.06

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Market outlook 2 January 2013

Currencies EUR/USD After a high ride of 1.33 a dollar, the euro fell 0.1 percent to 1.3186 dollars. The dollar has rose 0.3 percent reaching 1.3148 per euro. Over the past year, 2012, the euro has had an overall decline of 1.1 percent, while the dollar fell 3.3 percent.

USD/JPY Then yen continues to weaken, falling 0.7 percent to 87.34 per dollar, and has reached its lowest level since 29 July 2010 at 87.35. Today however the dollar has also weakened against other major currencies. The Yen’s 14 day relative strength index is at 17 versus the dollar.

AUD/USD After being one of the strongest currencies, since the passing of the legislation in the US to increase taxes and cut budgets on Wednesday the Australian dollar has suffered some losses and has fallen lower than the USD. The pair fell 0.18 percent to 1.0486 dollars.

GBP/USD The British pound has been gaining over the last month of last year, and has now risen to its highest level against the dollar in 16 months at 1.6381 dollars, before going down to 1.6252 dollars.

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Technical Analysis Jan 3 2013

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EUR/USD Current price: 1.3140

Resistance via the 1.3300 psychological figure remains a formidable barrier for any short term upside in EURUSD. Failure to close above the level in the near term would precipitate a decline to 1.3100 round figure support.

Support Levels 1.3129 1.3071 1.2985

Resistance Levels 1.3273 1.3359 1.3417

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GBP/USD Current price: 1.6222

Although rising through the 1.6200 round figure, GBPUSD upside potential has now thinned out ahead of resistance at 1.6300. Failure to rise above the psychological barrier would prompt a retest of support at 1.6172.

Support Levels 1.6193 1.6130 1.6035

Resistance Levels 1.6351 1.6446 1.6509

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USD/JPY Current price: 87.22

USDJPY momentum continued to propel the major pair through resistance at 87.00. The close above the psychological figure opens scope for a test of 88.00 handle resistance. Any near term correction will be temporary and target the 86.17 figure.

Support Levels 86.72 86.21 85.89

Resistance Levels 87.55 87.87 88.38

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AUD/USD Current price: 1.0481

Closing above resistance at 1.0481, AUDUSD upside potential remains intact. Subsequently, the upward violation opens scope for an advance on the 1.0573 December 17th high resistance. Any retracement will be buoyed by near term 1.0416 support.

Support Levels 1.0406 1.0314 1.0254

Resistance Levels 1.0558 1.0618 1.0710

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Market News 4 Jan 2013

Currency EUR/USD For the second day the dollar stayed higher than the euro, with a 0.1 percent gain and traded at 1.3040 per euro at 5 pm New York time, making it its strongest level in three weeks. The dollar is expected to advance 1.19 dollars per euro by the end of the year.

USD/JPY The yen fell against most other major currencies including the U.S. dollar, and that marks its longest weekly loss since 24 whole years, with a 2.1 percent loss against the U.S. dollar. It fell to 87.83 per dollar, and at 7 am London time it fell further to 87.74 per dollar. The yen’s 14 day relative strength index fell to 16.6 against the dollar.

AUD/USD China’s decline has had a big impact on the Australian dollar as the country is Australia’s biggest trade partner. The Aussie fell to 1.0441 at 4:25 pm Sydney time, losing 0.2 percent from yesterday. Expectations are that the currency will not have a noticeable improvement until china starts to improve pulling it along.

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Technical Analysis Jan 4 2013

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EUR/USD Current Trading: 1.3023

EUR/USD took support at 1.3119, EUR/USD look to set another lower trend , support at 12988 . Further penetration through the support barrier would prompt a test of 1.2892. Expect any retracement to be held at bay by the 1.3200 psychological figure.

Support Levels 1.2855 1.2951 1.3001

Resistance Levels 1.3147 1.3243 1.3293

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GBP/USD Current Trading: 1.6068

Breaking support at 1.6163, GBPUSD continues to fall lower As a result, support at 1.6018 is being eyed as the next viable support test. Any correction higher will be met with resistance at 1.6200.

Support Levels 1.5879 1.5986 1.6045

Resistance Levels 1.6211 1.6318 1.6377

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USD/JPY Current Trading: 87.74

Broken the resistance at 85.53 , USD/JPY continues to move up , A hanging man has emerged ahead of 88 handle resistance in USDJPY. The barrier should act as impetus for a move lower in the pair, towards initial support at 86.25.

Support Levels 86.23 86.50 86.85

Resistance Levels 87.47 87.74 88.09

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AUD/USD Current Trading: 1.0439

Breaking support at 1.0475 , AUDUSD continues to fall down , failed to close at 1.0500 round figure resistance, lending to the session’s decline. Additional declines are anticipated towards support via the 1.0403 figure, which is being reinforced by 1.0350 support.

Support Levels 1.0369 1.0415 1.0440

Resistance Levels 1.0511 1.0557 1.0582

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Market News 7 Jan 2013

Currencies EUR/USD The dollar gained 0.3 percent and rose to 1.3035 dollars per euro on the 4th of January. The dollar gained a weekley 0.7 percent increase while the euro lost 0.7 percent.

USD/JPY At 6 am London time the Yen gained 0.5 percent and rose to 87.73 per dollar. The yen's relative strength index versus the dollar fell to 15.5 on the 4th of January, its lowest since December 2001. The yen's continued shrinking has lead the country to take drastic measures, and it is expected that the extra budget which will be used to boost the economy will take around 5-6 trillion yen out of the public's work spending money.

AUD/USD The Australian dollar has gained against most of its counterparts. The yield of Australia's benchmark three-year government note went to 2.87 percent, its highest since the 17th of August 2012, and was 2 points lower than the 4th of January at 2.83 percent. The Australian dollar is expected to fall below 1 dollar this year, and weaken to 99 US cents by the end of the year.

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Technical Analysis Jan 7 2013

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EUR/USD Current Trading price: 1.3040

EUR/USD took Support at 1.3021 on Friday, but has since traded down around 40 pips into the 1.3040 area However, with resistance just above 1.3140, the momentum is likely temporary. Further declines are contingent on a break of the 1.3021 figure.

Support levels: 1.3040 1.3000 1.2970

Resistance levels: 1.3090 1.3120 1.3145

GBP/USD Current Trading price: 1.6042

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GBPUSD testing support round 1.6000 , GBPUSD bounced back , closing above support 1.6067 , However, price action remains below 1.6137, keeping the bearish bias intact. Expect a retest of the formidable round figure.

Support levels: 1.6025 1.5985 1.5930

Resistance levels: 1.6085 1.6120 1.6170

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USD/JPY Current Trading price: 87.84

Usd jpy on firday closed near above 88.00 resistance .opening scope for usdjp higher towards resistance at 89.00 . Any retracement in the near term will likely target initial support at 87.15, before declining to 86.16 support.

Support levels: 88.00 87.60 87.30 8

Resistance levels: 88.40 88.70 89.00

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AUD/USD: Current price: 1.0480

AUDUSD remains atop support at 1.0450, keeping bullish momentum intact, albeit for the moment. Any upside momentum will see formidable resistance tests at the December 14th session high.

Support levels: 1.0470 1.0430 1.0400

Resistance levels: 1.0525 1.0550 1.0600

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Market News 8 Jan 2013

Currencies EUR/USD The euro stayed strong versus the dollar, increasing 0.5 percent over the two past days, and it traded at 1.3119 dollars, at 12:26 pm London time, however it then suffered 0.2 percent loss and fell to 1.3042 dollars.

USD/JPY The yen has made a turn, and gained 0.5 percent reaching 87.36 per dollar, at 6:30 am London time. This is its strongest two day gain since the 8th of November, a positive change since four days ago it had hit its weakest price since July 2010. The Yen’s 14 day relative strength index against the dollar was at 27 today. The dollar fell 0.3 percent versus the yen and reached 87.55 per yen at 1:35 pm Tokyo time, Still the dollar displays signs of strength and is expected to advance to 94 yen; its strongest price in over two years.

AUD/USD The Australian dollar has slid after a three day gain. It fell 0.2 percent reaching 1.0478 dollars at 4:46 pm Sydney time. Speculations expect a 60 percent chance of the Reserve Bank of Australia lowering the benchmark interest rate from 3 percent this quarter.

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Technical Analysis Jan 8 2013

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EUR/USD Current Trading at : 1.31078

EUR/USD took support via 1.3040 . EUR/USD has set to make room to advance towards 1.3200 . Supportive of the notion is the close above the yesterday’s 1.3089 session high. Any retracement is likely to see stiff support at 1.3052.

Support Levels 1.2943 1.2980 1.3047

Resistance Levels 1.3151 1.3188 1.3255

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GBP/USD Current Trading at : 1.6082

Taking Support via 1.6065 GBPUSD closed above the 1.6100 . looks like GBPUSD set to make big move to 1.6200 , en route to a 1.6300 round figure test. Any converse retracement will be met by formidable support via the 1.6065 figure.

Support Levels 1.5952 1.5986 1.6051

Resistance Levels 1.6150 1.6184 1.6249

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USD/JPY Current Trading at : 87.44

USD/JPY failed to close at 88.00 resistance . , USDJPY looks set for another leg lower amid fundamental drivers. As a result, a retracement to 86.75 support isn’t all too far from plausible. Upside momentum should be held at bay by 88.25.

Support Levels 86.70 87.16 87.46

Resistance Levels 88.21 88.67 88.97

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AUD/USD Current Trading at : 1.0475

Stalling ahead of 1.0525 resistance, AUDUSD looks set to continue higher towards the resistance at 1.0560. The barrier is being reinforced by 1.0600 round figure resistance, which should act as a turning point for bulls. Near term downside remains minimized by the 1.0425 figure.

Support Levels 1.0421 1.0442 1.0473

Resistance Levels 1.0525 1.0546 1.0577

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Market News 9 Jan 2013

Currencies

EUR/USD The euro did not change much against the dollar. The dollar stayed higher than most major currencies gaining against the euro, which is not shocking when paired with the news that the European currency may not be improving any time soon. The pair hit 1.3093 rising 0.03 percent.

USD/JPY After rising 1.3 percent over the past two days, the yen once again fell against most of the major currencies, and lost against the dollar 0.5 percent to 87.49 per dollar at 6:49 am London time.

AUD/USD The Australian dollar has made a turn and for the last three days it has been gaining. The Aussie rose 0.4 percent over the past three days and it traded at 1.0503 dollars at 4:55 pm Sydney time. The pair hit 1.0523 which is a 0.06 percent increase.

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Technical Analysis 9 Jan 2013

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EURUSD changing the trend yesterday and moving lower . looks like EURUSD continues to feel effect the resistance 1.3150 . and the result , EURUSD seems to be ready for lower support at 1.2980 . Further penetration lower would activate lower support targets at the 1.2900 figure.

Support Levels 1.2964 1.3011 1.3046

Resistance Levels 1.3128 1.3175 1.3210

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GBP/USD Failing to break back above the 1.6131 figure, GBPUSD has declined through 1.6100 round support. Further downside declines remain contingent on the major’s ability to penetrate the 1.5986 barrier. The scenario would shift sights towards a test of 1.5912 October 23rd session low.

Support Levels 1.5927 1.5978 1.6019

Resistance Levels 1.6111 1.6162 1.6203

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USD/JPY With a confirmed break below the 88.00 round figure, USDJPY ‘s prospects remain bearish. Expectations now surround the likelihood of a test of the 86.00 round figure.

Support Levels 85.63 86.23 86.60

Resistance Levels 87.57 88.17 88.54

aud%20usd.gif

AUD/USD Resistance via the 1.0531 figure looms over AUDUSD upside, forcing the major to consolidate for the fourth straight session. Expectations are now emerging of a decline towards 1.0400 support in the near term, on a failed attempt to break above the resistance barrier.

Support Levels 1.0437 1.0454 1.0484

Resistance Levels 1.0531 1.0548 1.0578

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Market News 10 Jan 2013

Currencies EUR/USD The euro slid 0.1 percent to1.3056 dollars. The euro which is considered in crisis, awaits its fate when the European Central Bank will meet on Thursday. The pair hit 1.3037 in the morning which is its lowest since Monday.

USD/JPY The Japanese yen has fallen once more against most of its counterparts. The two day loss has the currency losing 0.3 percent and falling to 88.17 dollars at 6:39 London time. On the 4th of January the currency had reached its lowest level in over two years.

AUD/USD

The Australian dollar has gained its three week high against the dollar. As imports and exports in China improve, its major trading partner Australia, has been positively affected and the country’s currency has been improving. The Aussie touched its strongest price since the 18th of December with 1.0555 dollars, before falling to 1.0552 dollars at 4:31 pm Sydney time, which is a 0.3 percent increase.

GBP/USD The British currency has suffered a big loss and has fallen lower than most of its counterparts, occupying the second to last spot. It reached its lowest level since the 30th of November at 1.5993 dollars, it then rose to 1.6012 dollars at 4:38 pm London time.

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Technical Analysis 10 Jan 2013

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EUR/USD pair has continued its decline reaching 1.3100 below psychological figure. It is expected to fall even further and reach support at 1.3000 round figure. A retracement would find hard resistance at the 1.3161 figure.

Support Levels 1.2974 1.3006 1.3032

Resistance Levels 1.3090 1.3122 1.3148

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GBP/USD Expectations of the GBP/USD pair falling below the 1.6000 round figure have been boosted as the pair ended its session under 1.6050. the 1.5960 figure will be the pairs next support figure. The pair now depends on a break of the 1.6100 resistance barrier.

Support Levels 1.5903 1.5948 1.5985

Resistance Levels 1.6067 1.6112 1.6149

usd%20jpy.gif

The only remaining option for improving the USD/JPY pair is a violation of the 88 round figure. The pair closed below the 88.00 round figure resistance barrier, raising expectation of a decline to 86.00 in the hear future.

Support Levels 86.10 86.51 87.26

Resistance Levels 88.42 88.83 89.58

aud%20usd.gif

AUD/USD pair is now facing expectations of a further decline to 1.0400 support in the near future, while the pair currently struggles to avoid resistance by the 1.0531 figure, which is forcing the major currencies to merge for the fourth straight session.

Support Levels 1.0438 1.0462 1.0486

Resistance Levels 1.0534 1.0558 1.0582

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Market News 11 Jan 2013

Currencies EUR/USD The euro reached its highest gain in five months against the dollar, even though yesterday’s European Central Bank’s meeting decided against changing interest level rates. The US dollar also did well being higher than a lot of the other major currencies, despite its drop. The pair was up by 1.42 percent yesterday at 1.3252.

USD/JPY The yen continues to drop, reaching its lowest level since the 29th of June 2010, at 89.35 per dollar, it dropped 0.3 percent from yesterday trading at 89.08 at 2:58 pm Tokyo time. This marks the yen’s longest loss period in over 20 years.

AUD/USD Once again China’s economical status has affected the Australian dollar which has fallen against most of the other major currencies, leaving behind its highest level in four months. It traded at 1.0590 dollars at 10:31 am Sydney time yesterday. It has climbed 0.8 percent over the past 24 hours, and reached its highest level since the 14th of September at 1.0599 dollars.

GBP/USD The British currency fell 0.28 percent against the dollar at 1.6015 dollars. The pair fell 0.13 percent to 1.6148 after the central British bank decided against making any changes in their benchmark rate. This happened after the pair had showed signs of improvement over the past two days.

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Technical Analysis 11 Jan 2013

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EUR/USD pair I expected to get higher to 1.33000 psychological resistance, after close at 1.3157 resistance. The pair’s 1.3307 session on the 19th of December which reinforced the barrier, it looks difficult for the level to be reached, and any opposite correction would aim the 1.3165 barrier.

Support Levels 1.2882 1.2960 1.3111

Resistance Levels 1.3340 1.3418 1.3569

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GBP/USD pair is still expected to do well, after closing at 1.6129 above resistance. With its 1.6200 psychological barrier it is not unlikely that the pair would push higher to 1.6266 resistance. Any declines will probably be restricted by support at 1.6100.

Support Levels 1.5885 1.5945 1.6051

Resistance Levels 1.6217 1.6277 1.6383

usd%20jpy.gif

USD/JPY pair has penetrated the 88.00 round figure barrier, and is expected to move forward to resistance at 89.25 level. If they however do not break the figure they are likely to decline to initial support at 87.34.

Support Levels 87.11 87.48 88.07

Resistance Levels 89.02 89.39 89.98

aud%20usd.gif

AUD/USD pair have broken above the resistance barrier at 1.0575, and will now be retested at the 1.0600 psychological figure. Its high level of 1.0624 on the 14th of September continues to reinforce the level, however any retracement would test the 1.0500 figure.

Support Levels 1.0415 1.0454 1.0524

Resistance Levels 1.0633 1.0672 1.0742

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