Aussie at new heights
Tatiana Norkina, FBS analyst
The AUD/USD currency pair formed a new extremum for the past month yesterday. Due to quite agressive actions of the bulls the currency pair rate has soared under the 74th figure, breaking the last week's high of 0.7340. Bullish sentiment persists in the market, but this morning, we are witnessing the rate's decline into the Tenkan-Kijun channel. Obviously, the market needs a little rest to resume the uptrend. Testing of the Kijun-sen line levels is probable to be followed by the pair's new dash to the 0.7430/40 mark.
Technical levels: support – 0.7270; resistance – 0.7380, 0.7400.
1. Buy — 0.7280; SL — 0.7260; TP1 — 0.7400; TP2 — 0.7430.