Last week, our projection for the pair to end up between 1.0733 – 1.0852. The pair did just that, it ended up at 1.0775, regardless the good employment data from USA.
Aussie is in a wonderful rally. If US’s QE3 is implemented, Aussie will definitely keep its rally and may hit the 1.0852 level easily.
Support and Resistance levels for AUD/USD
1.1025 – Strong Resistance (Highest since 1990)
1.0990 – Strong Resistance
1.0852 – Strong Resistance (2011 Aug, Oct high)
1.0775 – Weak Resistance
1.0775 – Last Week Close
1.0610– Weak support
1.0596 – Weak support
1.0500 – Strong support
1.0375 – Strong support (2011 Dec High)
1.0200 – Strong support
1.0080 – Strong support
We still remain Bullish for the pair AUD/USD
Aussie has not yet given up its rally, even in the better US statistics.We
would like to remain bullish for the pair, to reach the 1.0852 level.
