Mon, 26 Apr 2010 00:46:00 +0200

AUD/USD remains strong above 0.9250

FXstreet.com (Barcelona) - The pair opened slightly lower at 0.9258 and currently displays shy movements between 0.9252 (intra-day low) and 0.9262 (intra-day high). Current price sets at 0.9260.

End of last week, we saw a violent bullish turn around from lows at 0.9170 which drove the Aussie all the way up closing steady above 0.9260. From a weekly basis, the pair finished recovering 50 pips to the upside.

In our recent Weekly Coverage, Valeria Bednarik suggested: “Aussie, continues to be the strongest currency across the board, market is still seeing deeps in the pair as great buying chances, and we have a doji with a strong downside shadow”.

He also added: “Quoting now around 0.9260, pair has inmediate resistances at 0.9300, 0.9330 and 0.9370/80 zone while supports are located at 0.9220, and strong 0.9170. Only under this last pair could lost part of current strength, yet still movements should be consider corrective, as long as above 0.8950 area.

Technical Analysis (2010-04-25 22:38 GMT)
AUD/USD 0.926/0.9263 - O: 0.926 H: 0.9264 L: 0.9256 C: 0.926
Trend	R3: 0.9314
	R2: 0.9291
	R1: 0.9268
	S1: 0.9211
	S2: 0.9234
	S3: 0.9258