AUD/USD ignores 100-day SMA

Right now it does not seem that the 100-day will be able to prevent the spot price from touching the highs seen in 2009 and 2010. There, however, it is likely to encounter strong selling pressure that is supposed to prevent the Aussie from making any additional gains. In case this is insufficient, the resistance at 0.9394/79 (weekly and monthly R2) will have to come into play and stop the rally.

As the Australian Dollar is getting more and more expensive with each new day, the number of people expecting the currency to rise even further against the U.S. Dollar is currently on the decline. Though we must note they still stay in an overwhelming majority, taking up 69% of the market.