AUDUSD broke above 0.9221 previous high resistance and the upward move from 0.8771 extended to as high as 0.9276 level. Further rise is still possible in a couple of days and next target would be at 0.9350 area. Key support is at 0.9092, only break below this level could take price back to 89.00 zone.

AUDUSD broke above 0.9180 resistance, suggesting that the uptrend from 0.8771 has resumed. Further rise towards 0.9221 could be seen later today. Key support is now at 0.9092, only fall below this level could indicate that lengthier consolidation of uptrend is underway, then deeper decline could be seen to 0.9000 area.

(RTTNews) - The Australian dollar advanced to its highest level in 1-month against the US dollar during early trading on Wednesday.

The aussie touched as high as 0.9184 against the greenback before briefly reversing the trend around 7:10 pm ET.

AUD/USD: Last Wednesday’s aggressive rally has called into question the validity of our bearish outlook, with the market racing higher to take out some key short-term resistance by 0.9080 and close back above 0.9100. Still, gains have stalled out just ahead 0.9200 and this does keep bearish bias slightly alive for now. In the interim, the key levels to watch above and below come in by 0.9200 and 0.9055 respectively and we will look for a break on either side for clearer directional bias.