FXstreet.com (Barcelona) - Australian Dollar bounced at 0.8585 low on Monday and upside movement sharpened on Wednesday's Asian session as the Aussie rallied from 0.8700 to 0.8820, fresh 13 month high on better then expected Australian retail sales figures.

The Aussie is bullish on the hourly trend, and sideways on daily basis, according to Rajoo C, technical analyst at Precise Trader: The Hourly Oscillators are Turning Bullish and the price is Above the MA, so the Bears have to be cautious. Hourly Trend is Sideways Up while 8640 holds and Daily Trend is Sideways while 8505 holds, so expect the price to make Higher Highs but the Upside may be limited.

On the hourly trend, Rajoo C. expects `prices to stall at the 8870-8925 area: The Price on the Hourly is marching higher but expect the price to stall near 8870-8925 , on the 5 min is along the Up Channel 8775-8710 are the critical levels to watch for the bulls, 8845-8925 are the critical levels for the bears.

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