BUZ INVESTORS AUDUSD increased 0.0009 The Australian Dollar seems to have fallen short of a convincing upside breakout against its US counterpart after storming higher from support above the 0.74 figure. The rally conspicuously stopped squarely on resistance establishing the series of lower highs and lows set from the March swing high.
From here, a break above trend line resistance and subsequent close above the 23.6% Fibonacci expansion at 0.7612 opens the door for a challenge of the 38.2% level at 0.7698. Alternatively, a reversal back below the 14.0% Fib at 0.7559 paves the way for a retest of the April 12 low at 0.7473.
The AUDUSD increased 0.0009 or 0.11% to 0.7576 on Friday April 14 from 0.7567 in the previous trading session. Historically, the Australian Dollar reached an all time high of 1.10 in July of 2011 and a record low of 0.48 in April of 2001.
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