Thu, 05 Jul 2012 15:45:12 GMT
AUD/USD is floating around the 200-day SMA, bulls don't lose hope
The Aussie dollar is trading flat against the US dollar as AUD/USD is currently floating around the 200-day simple moving average (1.0270). However, if bullish momentum continues further, 1.0347 (R1 Weekly) is going to be an initial resistance level. A breach of this line would clear the way to 1.0464 (R1 Monthly) and 1.0574 (23.60% Fibo).