Australian dollar has been trending higher against the US dollar since early Wednesday in New York and the pair seems to be up for a fall within the trending channel, study on AUD/USD 10-minute chart shows.

At 1:20 pm GMT, AUD/USD was testing resistance near its 200-day SMA of  0.9894 and a fall to 0.9860 (S1) will not push the pair out of the channel. Below that, a fall below 0.9952 (S2) may end the current uptrend. RSI shows the pair is in overbought zone.

On the higher side, a break above 0.9907 (R1) may take the pair to 0.9940 (R2). 

Thursday's economic calendar is rich for US with November housing starts, third quarter current account and weekly jobless claims, due at 1:30 pm GMT and Philadelphia Fed's December survey scheduled for 3:00 pm GMT.

AUD/USD

AUD/USD 10-minute