FXstreet.com (Barcelona) - The AUD/USD has been one of the major movers on Asian session, the pair has rallied almost 200 pips after the Reserve Bank of Australia decided to maintain rates unchanged at 3.25%.
The Australian Dollar has jumped from a session low at 0.6285 to a the current 0.6430, and the pair is on its way to test Feb 25 low at 0.6450.
The AUD/USD has reversed half of the losses of the decline from Feb 256 high at 0.6555 and according to the E-Forex team, the pair could test the aforementioned level if resistance at 0.6450 gives way: The fast rebound brings the .6450 resistance on focus and a potential break may open .6550 for a later test. Above the .6550 mark, daily momentum should turn bullish. Support is now seen at .6390 backed by .6280 and .6245. Intra-day studies are bullish at the time of this writing. Current quote is .6430 @07:15