FXstreet.com (Barcelona) - Australian Dollar continues appreciating at a strong pace together with gold prices and, after bouncing on Tuesday at 0.9030 low, the Aussie has broken above 0.9125 high to reach another 14-month high at 0.9155.

Hourly studies show the pair biased to the upside, and, according to Rajoo C, technical analyst at Precise Trader, the Aussie could reach higher levels: The Hourly Oscillators are Bullish and the price is Above the MA, so the Bears have to be sidelined. Hourly Trend is Sideways Up while 9025 holds and Daily Trend is Up while 8810 holds, so expect the price to make Higher Highs.

Furthermore, Rajoo C points out to 0.9160/0.9215 for potential reversals: The Price on the Hourly is creeping higher expect the price to test 9160-9215 before any significant move down, the price should not trade below 9065-25 to maintain the bullish outlook.