FXstreet.com (Barcelona) - Australian Dollar bounced yesterday at 0.6990 low, to rally to levels past 0.7100 in Asian session and reaching on early European session, prices around 0.7150, 1.33% above its opening price.
According to the E-Forex team, the Aussie is trading under buying pressure, with 0.7230 on sight: As the Aussie breached above .7100, next bullish objective is seen at .7230, such move being favored on a short-term basis. Above .7230, important resistance is formed by the recent top at .7325.
On a longer perspective, the E-Forex team sees the daily sentiment slightly negative: Intra-day sentiment is bullish but the daily remains slightly negative, a break above .7200 being required in order to confirm that uptrend resumed.
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