AUDUSD targets 0.9000 levels

Minors - 956854 (1)

The AUDUSD maintained a strong bullish momentum yesterday, breached above 0.8915 and topped at the 0.8940 levels. This development leaves the pair targeting the 0.9000 levels, a halt is suggested and sellers are likely to dominate the market once again around this level, but a break of 0.9015 on a daily basis would open the 0.9115 level, further out will aim the 0.9220 levels.

On the downside, support comes around the 0.8865 levels, a bearish correction is likely to this level before flying towards 0.9015 levels, losing 0.8865 would open 0.8800 next, below this level will turn the focus on the 0.8730, losing  0.8730 on a daily closing basis will signal short term topping and open 0.8659 ahead of 0.8585 levels , further break will aim the 0.8485 levels.

In all, the AUDUSD is likely to retain to its medium-term upside bias as long as support 0.8730 holds on a daily closing basis, below this level will resume the long-term bearish trend.

AUDUSD targets 0_9000 levels