FXstreet.com (Barcelona) - Australian Dollar recovery from 0.92.10 low in November 12 has found resistance at 0.9355, right below 15-month high at 0.9375, and the pair has been trading in a range from 0.9320 and 0.9355 during Asian and European sessions so far.
After several failed attempts to break 0.9355, indicators are trying to reverse, says Ian Coleman, Technical analyst at Turtle Futures: Moved up towards the previous high at 9370 but looks like we have stopped short. 4 spikes at the top show we have some solid resistance here. We are about to break the trend line (9330) and our indicators are trying to reverse.
On the downside, Coleman points out to 0.9316 as key level to trigger further decline: A break of 9316 should send us down to 9212 as the first target.