Forex: AUD/USD: Aussie retreats from 0.8410

By IBTimes Staff Reporter | August 23 2009 11:08 PM

FXstreet.com (Barcelona) - Australian Dollar has remained trading higher since the pair bounced at 0.8155 low on August 17, and the pair has reached 0.8412 high on Asian session although the Aussie has retreated afterwards to levels around 0.8375 on early European session.

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According to the AceTrader technical analysis team, the Aussie will remain on the upside as long as 0.8325 is in place: Although A$ has retreated after resumption of upmove from last week's 0.8156 low to 0.8413 (Asia) and consolidation with mild downside bias is seen for weakness to 0.8350/60, only break of 0.8325 support would signal temp. top is in place.

Resistance levels, according to the AceTrader technical analysis team, lie at 0.8413 and abovehere, 0.8454 and 0.8479. On the downside, support levels lie at 0.8354, 0.8325 and 0.8285.

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