FXstreet.com (Barcelona) - Australian Dollar has rallied on the back of better than expected employment figures, appreciating from 0.9025 low to break above 0.9100 before meeting resistance at 0.9170 area, from where the pair has been rejected twice.
The pair is expected to resume its bullish move, according to the Kshitij Consultancy Service Team, which expects the Euro to test 0.9200 area over the next sessions: We may expect a test of the Resistance at 0.9200. As mentioned earlier a break above 0.9200 might see a rise towards 0.9280-0.9300.
On the downside, a bearish reaction below 0.9100 would neutralize bullish trend, says the Kshitij Consultancy Service Team: As the pair is looking strong on its upmove, we expect the Support at 0.9100 to hold in the US session also. However, a break below 0.9100 might pull it down towards 0.9020-00.