FXstreet.com (Barcelona) - Australian Dollar's rally from 0.6770 (Mar 30 low) accelerated yesterday with a 360 pips rally which drove the pair through 0.7090 (Mar 24 high) to levels around 0.7230, the highest level since Jan 4.
The Aussie has pulled back somewhat in late Asian session on Friday dropping to levels around 0.7130. According to the E-Forex team, the pair's momentum is up and we could see further rally today: Daily sentiment is bullish and a potential break of the .7265/70 resistance should open .7925 - 50% of the .9845-.6005 large decline. Intra-day momentum is negative as the Aussie is retracing but may turn positive above .7180.
In case of a turn down, the E-Forex Team adverts about the following levels: On the downside, support is seen at .7100 backed by .7040/50 and .6970.