FXstreet.ccom (Barcelona) - Australian Dollar's rallied last week from 0.8980 low on Monday up to 0.9270 on Friday, the highest level from early August last year, to ease afterwards, although the pair has bounced at 0.9110 on Monday and rallies back, reaching levels above 0.9200 at the moment of writing.

According to Mohammed Isah, technical analyst at FXTechstrategy, the Aussie continues targeting higher levels, despite Friday's retreat: Its medium term uptrend remains intact suggesting further upside gain is expected towards its Aug 03'08 high at 0.9344 level. An invalidation of the latter will turn focus to the 0.9592 level, its July 27'08 high.

On the downside, Isah points out to 0.9090 low: To the downside, while Friday ended as a negative day, building on that weakness will leave the pair vulnerable to the downside towards the 0.9091 level, its Oct 08'09 high ahead of the 0.9000/0.8950 levels where a reversal of roles is expected.

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