9 Jun 2014
AUD/USD determined to retest 0.9350+
FXStreet (Bali) - AUD/USD is pushing into higher levels in the early going of the Tokyo session, presently at 0.9346, new session high, after an open at 0.9330.
Price action continues to provide clues that in the short run, risk are increasing for further upside, with a break above 0.9350/55 potentially leading to a test of next resistance zone at 0.9380/0.94.
According to Jim Langlands, Founder at FXCharts: "With the ECB and RBA meetings and also the NFP now out of the way for a month, I suspect the market will be busily looking for yield as we head into the Northern Hemisphere summer, and being long of the Aud against the funding currencies ($, Eur, Jpy) looks to be the medium term game plan."
Price action continues to provide clues that in the short run, risk are increasing for further upside, with a break above 0.9350/55 potentially leading to a test of next resistance zone at 0.9380/0.94.
According to Jim Langlands, Founder at FXCharts: "With the ECB and RBA meetings and also the NFP now out of the way for a month, I suspect the market will be busily looking for yield as we head into the Northern Hemisphere summer, and being long of the Aud against the funding currencies ($, Eur, Jpy) looks to be the medium term game plan."