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27 May 2014
AUD/USD takes out 0.9250 resistance
FXStreet (Bali) - AUD/USD's bulls have finally managed to break above the sticky resistance at 0.9250, sending the rate to a session high of 0.9257.
Following the tight consolidation above 0.9200/9210 from recent days, with multiple rejections off 0.9250 included, the break higher has upgraded the short term technicals.
The next upside target seen at 0.9257 (23.6% fib retrac from the .9410-0.9208 slide) followed by 0.9290 (38.2% fib) ahead of 0.93/0.9310 (round number and 50% fib).
Following the tight consolidation above 0.9200/9210 from recent days, with multiple rejections off 0.9250 included, the break higher has upgraded the short term technicals.
The next upside target seen at 0.9257 (23.6% fib retrac from the .9410-0.9208 slide) followed by 0.9290 (38.2% fib) ahead of 0.93/0.9310 (round number and 50% fib).